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 $ 32,162 90,473 112,604 9,951 289, 238 $ 534,428 $ 36,857 $ 36,146 63,855 50,182 85,232 54,518 9,772 4,140 264,998 231,414 $ 460,714 $ 376,400 $ 137,065 $ 78,639 $ 50,182 102,482 162,500 132,381 $ 534,428 104,905 80,689 162,500 162,500 114,670 83,029 $ 460,714 $ 376,400 (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 1 Choose Denominator: Choose Numerator: = Current Ratio Current ratio to 1 Current Yr: / = to 1 1 Yr Ago: 2 Yrs Ago: 1 to 1 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 $ 32,162 90,473 112,604 9,951 289, 238 $ 534,428 $ 36,857 $ 36,146 63,855 50,182 85,232 54,518 9,772 4,140 264,998 231,414 $ 460,714 $ 376,400 $ 137,065 $ 78,639 $ 50,182 102,482 162,500 132,381 $ 534,428 104,905 80,689 162,500 162,500 114,670 83,029 $ 460,714 $ 376,400 (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 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 $ 32,162 90,473 112,604 9,951 289, 238 $ 534,428 $ 36,857 $ 36,146 63,855 50,182 85,232 54,518 9,772 4,140 264,998 231,414 $ 460,714 $ 376,400 $ 137,065 $ 78,639 $ 50, 182 102,482 162,500 132,381 $ 534,428 104,905 80,689 162,500 162,500 114,670 83,029 $ 460,714 $ 376,400 (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 acid-test ratio for each of the three years. Acid-test ratio Choose Numerator: 1 Choose Denominator: + Current Yr: + Acid-Test Ratio Acid-test ratio to 1 to 1 to 1 + + = 1 Yr Ago: 2 Yrs Ago: + 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 $ 32,162 90,473 112,604 9,951 289, 238 $ 534,428 $ 36,857 $ 36,146 63,855 50, 182 85,232 54,518 9,772 4,140 264,998 231,414 $ 460,714 $ 376,400 $ 137,065 $ 78,639 $ 50,182 102,482 162,500 132,381 $ 534,428 104,905 80,689 162,500 162,500 114,670 83,029 $ 460,714 $ 376,400 (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 acid-test ratio improve or worsen over the three year period? Acid-test ratio
