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please help me for Required 1a and Required 2a Exercise 13-7 Analyzing liquidity LO P3 Simon Company's year-end balance sheets follow. Current Yr At December
please help me for "Required 1a" and "Required 2a"
Exercise 13-7 Analyzing liquidity LO P3 Simon Company's year-end balance sheets follow. Current Yr 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 $ 36,946 104,959 130,634 11,427 336,032 $ 619,998 1 Yr Ago 2 Yrs Ago $ 41,903 $ 44,095 72,583 59,387 96,901 65,164 11,000 5,048 312,094 276, 206 $ 534,481 $ 449,900 $ 159,011 $ 91,231 $ 59,981 116,560 162,500 181,927 $ 619,998 126,619 100, 422 162,500 162,500 154, 131 126,997 $ 534,481 $ 449,900 (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. mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity 116,560 162,500 181,927 $ 619,998 126,619 100, 422 162,500 162,500 154,131 126,997 $ 534,481 $ 449,900 (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 Choose Numerator: Choose Denominator: / $ 36,9461 104959 + 72583] = 1 Current Yr: 1 Yr Ago: 2 Yrs Ago: Current Ratio Current ratio 0 to 1 0 to 1 0 to 1 II / Required 1A Required 1B
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