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please help DUE SOON Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below) Simon Company's year-end
please help DUE SOON
Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below) 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 Connon stock, $10 par value Retained earnings Total liabilities and equity Current Year 1 Year Ago 2 Years Ago $ 33,843 $ 39,560 $ 40,392 99,069 69,922 54,933 124,560 92,397 56,777 10,899 10,384 4,488 305,244 282,233 251,410 $ 573,615 $ 494,496 $ 488,000 $ 144,258 106.761 163,500 159,096 $ 573,615 $ 83,570 117,146 162,500 131,280 $ 494,496 $ 52,779 91.971 162,500 100.750 $408.000 Exercise 13-7 (Algo) Analyzing liquidity LO P3 11-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? Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1A Required 18 Required 2A Required 28 Compute the acid-test ratio for each of the three years Acid-test ratio Denominator Numerator Short-term Investments Acid-Test Ratio Acid-bowl rati to 1 132.012 0 Current Year 1 Year Ago 2 Years Ago: 10 1 10 1 0 Step by Step Solution
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