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Current Yr 1 Yr Ago 2 Yrs Ago Simon Company's year-end balance sheets follow. At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid
Current Yr 1 Yr Ago 2 Yrs Ago Simon Company's year-end balance sheets follow. 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 $ 31,800 89,500 112,500 19,700 278,500 $ 523,000 $ 35,625 $ 37,888 62,500 50,200 82,500 54,000 9,375 5,000 255,000 238,500 $ 445,000 $ 377,500 $ 129,900 98,500 163,500 131, 100 $ 523,000 $ 75,250 551,250 101,500 83,5ee 163,500 163,500 104,750 79, 250 $ 445,000 $ 377,500 (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 current ratio for each of the three years. Current Ratio Choose Denominator Choose Numerator: = 1 Current Yr: 1 Yr Ago: 2 Yrs Ago: Current Ratio Current ratio to 1 to 1 to 1 1 = Required 1A Required 1B > 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, het Total assets Liabilities and Equity Accounts payable Long-term notes payable Common stock, $10 par volve Retained earnings Total liabilities and equity $ 31,800 39,500 112,500 10,780 278,500 $ 523,000 $ 35,625 $ 37,800 62,500 50,200 82,500 54,000 9,375 5,000 255,000 230,500 $.445,000$ 377,500 $ 129,900 98,500 163,500 151, 100 $ 523,000 $ 75,250 551,250 101,500 83,500 163,500 163,500 104,75e 79,250 $445,000 $377,500 (1-0) 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 Choone Numerator: 1 Choose Denominator: Acid-Test Ratio Acid est ratio 10 1 1 101 Current Ye 1 Yr Ago: 2 Yrs Ago: to
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