Q8

Exercise 13-7 Liquidity analysis LO P3 0.32 points Simon Company's year-end balance sheets follow. 2017 2016 2015 Skipped eBook $ 33,786 $ 39,098 $ 38,750 96,943 71,185 52,194 123, 118 91,327 57,282 11,098 10,056 4,349 307,698 281,992 246,825 $572,643 $493,658 $399,400 Hint 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 Print References $138,310 $ 84,262 $ 51,666 109,810 110, 135 87,385 162,500 162,500 162,500 162,023 136,761 97,849 $572,643 $493,658 $399,400 1. Compute the current ratio for the year ended 2017, 2016, and 2015. 2. Compute the acid-test ratio for the year ended 2017, 2016, and 2015. 032 points 1. Compute the current ratio for the year ended 2017, 2016, and 2015. 2. Compute the acid-test ratio for the year ended 2017, 2016, and 2015. Stapped Complete this question by entering your answers in the tabs below. eBook Required 1 Required 2 Hint Compute the current ratio for the years ended December 31, 2017, 2016, and 2015. Deference Current Ratio Choose Denominator: Choose Numerator: + = Current Ratio Current ratio 2017 2016 2015: Required 1 Required 2 > 1. Compute the current ratio for the year ended 2017, 2016, and 2015 2. Compute the acid test ratio for the year ended 2017, 2016, and 2015. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the acid-test ratio for the years ended December 31, 2017, 2016, and 2015. Acid-Test Ratio Choose Numerator: Choose Denominator: - Acid-Test Ratio Aadrato 2016: 2015