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 $ 34,830 95,067 121,993 10,672 310,581 $ 573, 143 $ 40,713 $ 40,762 68,481 56,546 90,492 57,286 10,376 4,621 284,027 256,685 $ 494,089 $ 415,900 $ 142,713 $ 83,501 $ 53,252 108,828 162,500 159,102 $ 573, 143 112,504 92,833 162,500 162,500 135,584 107,315 $ 494,089 $ 415,900 (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? Required 1A Required 1B Required 2A Required 2B Compute the current ratio for each of the three years. Choose Numerator: Current Ratio I Choose Denominator: 1 / = Current Yr: 1 Yr Ago: 2 Yrs Ago: Current Ratio Current ratio to 1 to 1 to 1 11 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 1B Required 2A Required 2B Did the acid-test ratio improve or worsen over the three year period? Acid-test ratio Required 1A Required 1B Required 2A Required 2B Compute the acid-test ratio for each of the three years. Acid-test ratio Choose Numerator: I Choose Denominator: + = Acid-Test Ratio Acid-test ratio to 1 Current Yr: + = + 1 to 1 1 Yr Ago: 2 Yrs Ago: + + 1 to 1