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Simon Company's year-end balance sheets follow 2 Yrs Ago At December 31 1 rAgo Current Yr Assets Cash $ 106, 282 $ $ 56, 078
Simon Company's year-end balance sheets follow 2 Yrs Ago At December 31 1 rAgo Current Yr Assets Cash $ 106, 282 $ $ 56, 078 36, 315 41, 200 42, 917 Accounts receivable, net Merchandise inventory Prepaid expenses 72, 100 93, 350 127, 143 60, 326 4, 673 11,351 10, 596 Plant assets, net 322, 341 302, 954 269, 506 $ 603, 432 $ 520, 200 $ 433, 500 Total assets Liabili ti es and Equi ty Accounts payable Long-term notes payable secured by mor tgages on plant assets Comm on stock, $10 par value Retained earnings $ 148, 752 $ $ 56, 650 87, 914 110, 042 122, 039 96, 762 162, 500 162, 500 162, 500 182, 138 147, 747 117, 588 $603, 432 $ 520, 200 $433, 500 Total liabilities and equity (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? Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1A Required 1B Required 2A Required 2B Compute the acid-test ratio for each of the three years. Acid-test ratio Acid-Test Choose Numerator: / Choose Denominator: Ratio Acid-test ratio Cash to 1 Current 0 Yr: to 1 1 Yr Ago: / 0 + 2 Yrs Ago: to 1
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