compute the current ratio for each of the three years
Simon Company's year-end balance sheets follow. Current Yr 1 Yr Ago 2 Yrs Ago 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 $ 36, 130 102,622 132,978 11, 752 328,895 $ 612,377 $ 42,233 $ 42,272 7 5, 386 55, 224 97,664 63,082 11, 308 4,839 301, 320 265,883 $ 527,911 $ 431,300 $ 154,007 $ 89,217 $ 56,362 115, 127 162,500 180,743 $ 612, 377 118, 991 98,177 162,500 162,500 157,203 114,261 $ 527,911 $ 431,300 (1-a) Compute the current ratio for each of the three years. (1-b) Did the current ratio imbrove 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 Compute the current ratio for each of the three years. F 2 LUMI LUUN, DIU par value Retained earnings Total liabilities and equity tua, O 180,743 $ 612,377 LUL, vou LUL, JUU 157, 203 114, 261 $ 527,911 $ 431,300 R (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 Compute the current ratio for each of the three years. Current Ratio Choose Denominator: Current liabilities Choose Numerator: Current assets = Current Yr: 1 Yr Ago: 2 Yrs Ago: Current Ratio Current ratio 0 to 1 0 to 1 0 to 1 Required 1B > BLUUNAUNGWA Retained earnings Total liabilities and equity 180,743 $ 612,377 157. 203. 114.261 $527,911 $ 431,300 (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 18 Required 2A Required 28 Compute the acid-test ratio for each of the three years Acid-test ratio Choose Numerator: 1 Choose Denominator: = Acid-Test Ratio - Acid-test ratio 0 to 1 0 to 1 0 to 1 Current Yr: 1 Yr Ago: 2 Yrs Ago:
