! Required information [The following information applies to the questions displayed below.) Simon Company's year-end balance sheets follow. Current Year 1 Year Ago 2 Years Ago 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 Common stock, $10 par value Retained earnings Total liabilities and equity $ 31,578 91,523 112,772 10,068 289,283 $ 535,224 $ 37,281 64,596 87,066 9,689 262, 768 $ 461,400 $ 39,207 49,231 55,691 4,187 236,184 $ 384,500 $ 131,938 99,616 162,500 141,170 $ 535,224 $ 77,977 107,183 163,500 112,740 $ 461,400 $ 49,739 84, 125 163,500 87, 136 $ 384,500 ces (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. (2-1) 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 18 Required 2A Required 28 Compute the current ratio for each of the three years. MAUMALAW SAMYMAI Accounts payable Long-term notes payable Common stock, $10 par value Retained earnings Total liabilities and equity $ 131,938 99,616 162,500 141,170 $ 535,224 $ 77,977 107,183 163,500 112,740 $ 461,400 $ 49,739 84,125 163,500 87,136 $ 384,500 (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. Required 1A Required 18 Required 2A Required 2B Compute the current ratio for each of the three years. Current Ratio Numerator: Denominator: Current Ratio ### Current ratio Current Year: $ $ 231,554/ 185,160/ 1 1 Year Ago: 2 Years Ago: = 0 to 1 0 to 1 0 to 1 Required 1A Required 1B > Liabilities and Equity Accounts payable Long-term notes payable Common stock, $10 par value Retained earnings Total liabilities and equity $ 131,938 99,616 162,500 141,170 $ 535,224 $ 77,977 107,183 163,500 112,740 $ 461,400 $ 49,739 84,125 163,500 87, 136 $ 384,500 (1-a) Compute the current ratio for each of the three years. (1-1) 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 Requiryd 1B Required 2A Required 28 Did the current ratio improve or worsen over the three-year period? Current ratio es Required 1A Required 2A > CH ARROW Accounts payable Long-term notes payable Common stock, $20 par value Retained earnings Total liabilities and equity $ 131,938 99,616 162,500 141, 170 $ 535,224 $ 77,977 107,183 163,500 212.740 $ 461,400 $ 49,739 84,125 163,500 87.136 $ 384,500 (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 acld-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 28 Compute the acid-test ratio for each of the three years. Acid test ratio Denominator Numerator: + Short-term investments Acid-Test Ratio = Acid-test ratio Oto 1 = Oto 1 = Oto 1 . Current Year: 1 Year Ago: 2 Years Ago Simon Company's year-end balance sheets follow. Current Year 1 Year Ago 2 Years Ago 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 Common stock, $10 par value Retained earnings Total liabilities and equity $ 31,578 91,523 112,772 10,068 289,283 $ 535,224 $ 37,281 64,596 87,066 9,689 262, 768 $ 461,400 $ 39,207 49,231 55,691 4,187 236,184 $ 384,500 $ 131,938 99,616 162,500 141,170 $ 535,224 $ 77,977 107,183 163,500 112,740 $ 461,400 $ 49,739 84,125 163,500 87,136 $ 384,500 (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 18 Required 2A Required 2B Did the acid-test ratio improve or worsen over the three-year period? Acid-test ratio
