B. Simon Company's year-end balance sheets follow. Current Yr 1 Yr Ago 2 Yrs Ago $ 34,504 99,031 123,293 10,464 300,484 $ 567,776 $ 39,940 $ 41,630 67,839 54,951 88,739 60, 308 10,381 4,672 282,563 258,939 $ 489,462 $ 420,500 ok ht At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable Long-term notes payable secured by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity $ 139,962 $ 83,546 $ 56,061 at ncos 103,540 162,500 161, 774 $ 567,776 113,702 90,143 162,500 162,500 129,714 111, 796 $ 489,462 $ 420,500 (1-a) Compute the current ratio for each of the three years, (1-1) Did the current ratio improve or worsen over the three year period? (2-a) Compute the acid-test ratio for each of the three years. (2-b) Did the acid-test ratio improve or worsen over the three year period? Complete this question by entering your answers in the tabs below. Required 1A Required 18 Required 2A Required 2B Compute the current ratio for each of the three years. (1-a) Compute the current ratio for each of the three years. (1-b) Did the current ratio improve or worsen over the three year period? (2-a) Compute the acid-test ratio for each of the three years. (2-b) Did the acid-test ratio improve or worsen over the three year period? Book Complete this question by entering your answers in the tabs below. Print Required 1A Required 18 Required 2A Required 2B rences Compute the current ratio for each of the three years. Choose Numerator: Current Ratio 1 Choose Denominator: Current liabilities Current assets 11 Current Ratio Current ratio 0 to 1 0 to 1 1 Current Yr: 1 Yr Ago: 2 Yrs Ago: 1111 11 to 1 NOTA Required 18 > 3 Retained earnings Total liabilities and equity 161,774 $ 567,776 129,714 111, 796 $ 489,462 $ 420,500 28 hits (1-a) Compute the current ratio for each of the three years. (1-b) Did the current ratio improve or worsen over the three year period? (2-a) Compute the acid-test ratio for each of the three years. (2-b) Did the acid-test ratio improve or worsen over the three year period? eBook Hint Complete this question by entering your answers in the tabs below. Print ferences Required 1A Required 1B Required 2A Required 2B Did the current ratio improve or worsen over the three year period? Current ratio Help Save & Exit Saved Submit 13 Check my work Retained earnings Total liabilities and equity 161,774 $ 567,776 129,714 111.796 $ 489,462 $ 420,500 (1-a) Compute the current ratio for each of the three years. (1-b) Did the current ratio improve or worsen over the three year period? (2-a) Compute the acid-test ratio for each of the three years. (2-b) Did the acid-test ratio improve or worsen over the three year period? Complete this question by entering your answers in the tabs below. Required 1A es Required 18 Required 2A Required 28 Compute the acid-test ratio for each of the three years. Acid-test ratio Choose Numerator: Choose Denominator: Acid-Test Ratio Acid-test ratio o to 1 O to 1 Otot + Current Yr: 1 Yr Ago: 2 Yrs Ago: 4 3 Retained earnings Total abilities and equity 161,774 $ 567,776 129,714 111,796 $ 489,462 $ 420,500 28 (1-a) Compute the current ratio for each of the three years. (1-1) Did the current ratio improve or worsen over the three year period? (2-a) Compute the acid-test ratio for each of the three years. (2.b) Did the acid-test ratio improve or worsen over the three year period? eBook Hint Complete this question by entering your answers in the tabs below. Print ferences Required 1A Required 13 Required 2A Required 28 Did the acid-test ratio improve or worsen over the three year period? Acid-test ratio
