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Simon Company's year - end balance sheets follow. At December 3 1 Current Year 1 Year Ago 2 Years Ago Assets Cash $ 2 6
Simon Company's yearend balance sheets follow. At December Current Year Year Ago Years Ago Assets Cash $ $ $ Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets $ $ $ Liabilities and Equity Accounts payable $ $ $ Longterm notes payable Common stock, $ par value Retained earnings Total liabilities and equity $ $ $ For both the current year and one year ago, compute the following ratios: Exercise Algo Analyzing liquidity LO P a Compute the current ratio for each of the three years. b Did the current ratio improve or worsen over the threeyear period? a Compute the acidtest ratio for each of the three years. b Did the acidtest ratio improve or worsen over the threeyear period? Please make tables for A and A
Simon Company's yearend balance sheets follow.
At December Current Year Year Ago Years Ago
Assets
Cash $ $ $
Accounts receivable, net
Merchandise inventory
Prepaid expenses
Plant assets, net
Total assets $ $ $
Liabilities and Equity
Accounts payable $ $ $
Longterm notes payable
Common stock, $ par value
Retained earnings
Total liabilities and equity $ $ $
For both the current year and one year ago, compute the following ratios:
Exercise Algo Analyzing liquidity LO P
a Compute the current ratio for each of the three years.
b Did the current ratio improve or worsen over the threeyear period?
a Compute the acidtest ratio for each of the three years.
b Did the acidtest ratio improve or worsen over the threeyear period?
Please make tables for A and A
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