Check my wo 3 Current Year 1 Year Ago 2 Years Ago Part 2 of 4 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 Common stock, $10 par value Retained earnings Total liabilities and equity $ 31,991 90,019 109,787 10, 202 284,430 $ 526, 429 $ 37,395 64,170 83,117 9,625 259,511 $ 453,818 $ 38,586 49,920 55, 346 4,160 237,888 $ 385,900 20 points $ 127, 148 98,969 163,500 136, 812 $ 526,429 $ 78,229 103,334 162,500 109,755 $ 453,818 $ 51,448 85,284 162,500 86,668 $ 385,900 eBook Hint For both the current year and one year ago, compute the following ratios: References (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 Required 1B Required 2A Required 2B -ro Check my wo m. For both the current year and one year ago, compute the following ratios: Part 2 of 4 (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? 20 points Complete this question by entering your answers in the tabs below. eBook Hint Required 1A Required 1B Required 2A Required 2B References Compute the current ratio for each of the three years. Current Ratio Numerator: 1 Denominator: Current assets / Current liabilities $ 241,999 $ $ 194,307 1$ $ 148,012 / $ Current Ratio Current ratio 1.90 to 1 127,148= Current Year: 1 Year Ago: 2 Years Ago: 78,229 = 51,448= 2.48 to 1 2.88 to 1 Required 1A Required 1B > m. Check my wo m. For both the current year and one year ago, compute the following ratios: Part 2 of 4 (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? 20 points Complete this question by entering your answers in the tabs below. eBook Hint Required 1A Required 1B Required 2A Required 2B References Required 1B Did the current ratio per worsen over the three-year period? Current ratio Worsened Check my wo m. For both the current year and one year ago, compute the following ratios: Part 2 of 4 (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? 20 points Complete this question by entering your answers in the tabs below. eBook Hint Required 1A Required 1B Required 2A Required 2B References Compute the acid-test ratio for each of the three years. Acid-test ratio Numerator: + Short-term investments Denominator: Current liabilities + $ Current Year: 1 Year Ago: 2 Years Ago: + Current assets + $ 122,010 + $ 101,565 + $ 88,506 / = Acid-Test Ratio Acid-test ratio 127,148 = to 1 78,229 to 1 51,448 = to 1 + $ $ m. Check my wo m. For both the current year and one year ago, compute the following ratios: Part 2 of 4 (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? 20 points Complete this question by entering your answers in the tabs below. eBook Hint Required 1A Required 1B Required 2A Required 2B References Did the acid-test ratio improve or worsen over the three-year period? Acid-test ratio Worsened