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pls help Simon Company's year-end balance sheets follow. At December 31 Current Year 1 Year Ago 2 Years Ago Assets Cash $ 35,683 $ 41,710
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Simon Company's year-end balance sheets follow. At December 31 Current Year 1 Year Ago 2 Years Ago Assets Cash $ 35,683 $ 41,710 $ 44, 764 Accounts receivable, net 101,330 75,941 58,516 Merchandise inventory 128,717 94,506 62,319 Prepaid expenses 11,259 10,949 4,925 Plant assets, net 333, 913 303, 534 272,776 Total assets $ 610,902 $ 526,640 $ 443,300 Liabilities and Equity Accounts payable $ 153,636 $ 91,672 $ 56,760 Long-term notes payable 114,850 122,338 96,010 Common stock, $10 par value 162,500 163,500 162,500 Retained earnings 179,916 149, 130 128,030 Total liabilities and equity $ 610,902 $ 526,640 $ 443,300 For both the current year and one year ago, compute the following ratios: Exercise 17-7 (Algo) Analyzing liquidity LO P3 (1-a) Compute the current ratio 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. (2-6) 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 1B Required 2A Required 2B Compute the current ratio for each of the three vears. Complete this question by entering your answers in the tabs below. Required 1A Required 18 Required 2A Required 2B Compute the current ratio for each of the three years. Current Ratio Denominator: Numerator: Current Ratio / + 11 Current ratio 11 to 1 Current Year: 1 Year Ago: 2 Years Ago: = to 1 to 1 Required 1A Required 18 > Part 2 of 5 2 points (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? Skipped Complete this question by entering your answers in the tabs below. eBook Hint Required 1A Required 18 Required 2A Required 2B Print Did the current ratio improve or worsen over the three-year period? Current ratio Improved Worsened Dow: Required 1A Required 18 Required 2A Required 20 Compute the acid-test ratio for each of the three years. Acid-fest ratio Numerator Short-term investments Denominator + Current Year: 1 Year Ago: 2 Years Ago Acid-Test Ratio Acid-test ratio to 1 + to 1 to 1 Required 18 Required 28 > (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? oints Skipped Complete this question by entering your answers in the tabs below. BOOK Hint Print Required 1A Required 18 Required 2A Required 2B Did the acid-test ratio Improve or worsen over the three-year period? Acid-test ratio Step by Step Solution
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