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Current Yr 1 Yr Ago 2 Yrs Ago $ 29,026 $ 33,929 $ 33,957 85,827 58,776 45,738 107,911 76,876 49,203 9,536 9,176 3,812 264,644 249,643

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Current Yr 1 Yr Ago 2 Yrs Ago $ 29,026 $ 33,929 $ 33,957 85,827 58,776 45,738 107,911 76,876 49,203 9,536 9,176 3,812 264,644 249,643 217,290 $ 496,944 $ 428,400 $ 350,000 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 $ 123,739 $ 70,952 $ 45,738 93,425 99,517 77,350 162,500 162,500 162,500 117,280 95,431 64,412 $ 496,944 $ 428,400 $ 350,000 (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 Numerator: / Choose Denominator: 1 = Current Ratio Current ratio to 1 to 1 1 Current Yr: 1 Yr Ago: 11 Current Ratio Choose Numerator: 1 Choose Denominator: = 11 / Current Ratio Current ratio to 1 to 1 11 / Il Current Yr: 1 Yr Ago: 2 Yrs Ago: / to 1 Required 1A Required 1B > (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 Did the current ratio improve or worsen over the three year period? Current ratio Required 1A Required 10 Required 2A Required 2B Compute the acld-test ratio for each of the three years. Acid-test ratio Choose Numerator: Choose Denominator Current Yr: 1 Yr Ago: 2 Yrs Ago: = Acid-Tost Ratio Acid-test ratio to 1 to 1 to 1 Required 1A Required 1B Required 2A Required 2B Did the acid-test ratio improve or worsen over the three year period? Acid-test ratio

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