Current Yr 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-tern notes payable secured by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity $ 34, 100 97,843 127,989 11, 201 306,825 $ 577,958 1 Yr Ago 2 Yrs Ago $ 41,055 $ 41,927 68,359 53,162 94,018 57,779 10,358 4,476 284,450 257,856 $ 498,240 $ 415,200 $ 142,472 $ 85,045 $ 55,983 106,483 162,500 166,503 $ 577,958 112,303 92,677 162,500 162,500 138, 392 104, 120 $ 498,240 $ 415,200 (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 28 Compute the current ratio for each of the three years. ELE 20 W MacBook Pro @ & * 2 $ 4 3 % 5 6 7 8 exercise Questions Saved taj compute e Lunel IDUU 101 EDLIR DI Dieulee years (1-6) 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. ook Required 1A Required 1B Required 2A Required 28 Compute the current ratio for each of the three years. erences Current Ratio Choose Numerator: Choose Denominator: Current Yr: 1 Yr Ago: 2 Yrs Ago: Current Ratio Current ratio to 1 to 1 10 1 Required 10 > aw 20 W MacBook Pro Q @ $ & 2 3 4 5 6 7 8 (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. sk Required 1A nt Required 1B Required 2A Required 28 ances Did the current ratio improve or worsen over the three year period? Current ratio 20 MacBook Pro & 2 $ 4 de L 3 6 7 8 Content Question 4 - Ch.13 E QUE Jestions (1-a) Compute the current ratio for each of the three years. (9-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 10 Recured 2A Required 2B Compute the acid-test ratio for each of the three years. Acidtest ratio Choose Numerator Choose Denominator Current Yr: 1 Yr Age: 2 Yrs Ago: Acid-Test Ratio Acid-test ratio to 1 tot tot Required 20 ) MAR W P 20 MacBook Pro Q 2 # 3 $ 4 % 5 & 7 2 6 8 9 W E R T Y U O S D F F G H J (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. (2-6) 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 2B ces Did the acid-test ratio improve or worsen over the three year period? Acid-test ratio 20 w MacBook Pro