Homework Chapter 13 Doved 3 Simon Company's year-end balance sheets follow, Current Yr 1 Yr Ago 2 Yrs Ago points 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 $ 26,589 74,071 95,953 8,395 232,531 $ 432,540 5 29,873 $ 31,433 52,279 41,910 68,385 ..46,438 8,159 3,423 218,494 194, 296 $ 377,190 $ 317,500 Shipped $ 111,126 563, 108 5 41,072 eBook 84,725 162,500 79,189 $ 437,540 85,886 72, 273 162,500 162,500 65,696 41,655 $ 377,190 5 317,500 Hint As (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? References Complete this question by entering your answers in the tabs below. Required 1A Required 13 Required 2A Required 28 Compute the current ratio for each of the three years Choose Numerator Current Ratio Choose Denominator Current Yr 1 Yr Ago: 2 Yrs Ago: Current Ratio Current ratio tot to 1 to 1 RIA Required 18 > 3 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, net Total assets Liabilities and Equity Accounts payable Long-term notes payable secured by mortgages on plant assets Connon stock, $10 par value Retained earnings Total liabilities and equity $ 26,589 74,071 95,953 8, 396 232,531 $ 437,540 $ 29,873 $ 31,433 52,279 41,910 68,385 46,438 8,159 3,423 218,494 194, 296 $ 377,190 $317,500 Hopped $ 111, 126 $ 63,108 $ 41,072 Book 84,725 162,500 79, 189 $ 437,540 85,886 72, 273 162,500 162,500 65,696 41,655 $ 377,190 $ 317,500 -Tin sk (1-3) Compute the current ratlo for each of the three 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. (2-1) Did the acid-test ratio improve or worsen over the three year period? rences Complete this question by entering your answers in the tabs below. Required IA Required 18 Required 2A Required 28 Did the current ratio improve or worsen over the three year period? Current ratio E 9 2 She 96 5 3 7 B W E R s D F G . K 3 Current Yr 1 yr Ago 2 Yrs Ago 1 points At December 31 Assets Cash Accounts receivab17, 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 $ 26,589 74,071 95,953 8,396 232,531 $ 437,540 $ 29,873 $ 31,433 52,279 41,910 68,385 46,438 8,159 3,423 218,494 194, 296 $ 377,190 $ 317,500 Skloped $ 111,126 $ 63,188 $ 41,072 Book 84,725 162,500 79, 189 $ 437,540 85,986 72, 273 162,500 162,500 65,696 41,655 $ 377,190 5 317,500 Hint (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? Ank Q References Complete this question by entering your answers in the tabs below. Required 1A Required 18 Required 2A Required 28 Did the acid-test ratio improve or worsen over the three year period? Acid-test ratio
