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plzhelp me with this qn thanks in advance Simon Company's year-end balance sheets follow. At December 31 Assets Current Yr 1 Yr Ago 2 Yrs
plzhelp me with this qn thanks in advance
Simon Company's year-end balance sheets follow. At December 31 Assets Current Yr 1 Yr Ago 2 Yrs Ago Cash $ 29,242 84,751 106,558 9, 142 251,491 $ 481, 184 $ 33,517 $ 33,887 57,493 44,735 78,275 48,605 8,798 3,728 236,731 207,945 $ 414,814 $ 338,900 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 $ 118,617 $ 69,403 $ 44,735 91,367 162,500 108,700 $ 481, 184 96, 361 75,646 162,500 162,500 86,550 56,019 $ 414,814 $ 338,900 (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 2BStep by Step Solution
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