Check my work 1 Required information 10 points Use the following information for the Exercises below. (Algo) The following information applies to the questions displayed below.] Simon Company's year-end balance sheets follow. eBook Current Year 1 Year Ago 2 Years Ago Hint 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 $ 37,244 106,876 135,720 11.875 333,293 $ 625,808 $ 44,397 74,678 101,672 11,089 306,964 $ 538,800 $ 45,340 59,861 63,758 5,038 275,003 $ 449,080 Ask Print $ 155,627 115,151 162,5ea 191,730 $ 625, 088 $ 91,968 122,685 163,500 168,647 $ 538,800 $ 60,453 97,244 163,500 127,883 $ 449,880 References For both the current year and one year ago, compute the following ratios: Exercise 13-7 (Algo) Analyzing liquidity LO P3 (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. For both the current year and one year ago, compute the following ratios: 10 points Exercise 13-7 (Algo) Analyzing liquidity LO P3 eBook (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? Hint Complete this question by entering your answers in the tabs below. Ask Required 1A Required 1B Required 2A Required 2B Print Compute the current ratio for each of the three years. Current Ratio Denominator: References Numerator: = Current Year: 1 Year Ago: 2 Years Ago: Current Ratio Current ratio 0 to 1 0 to 1 0 to 1 Check my work 1 For both the current year and one year ago, compute the following ratios: 10 points Exercise 13-7 (Algo) Analyzing liquidity LO P3 (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. (2-6) Did the acid-test ratio improve or worsen over the three-year period? eBook Hins Complete this question by entering your answers in the tabs below. Ask Required 1A Required 1B Required 2A Required 2 Compute the acid-test ratio for each of the three years. Prins Acid-test ratio Numerator: Denominator: References + Short-term investments + = Acid-Test Ratio Acid-test ratio = oto 1 + + Current Year: 1 Year Ago: 2 Years Ago: - 0 to 1 0:01
