Simon Companys year-end balance sheets follow. At December 31 2017 2016 2015 Assets Cash $ 33,019 $ 37,839 $ 38,623 Accounts receivable, net 93,822 65,556
Simon Companys year-end balance sheets follow.
| At December 31 | 2017 | 2016 | 2015 | ||||||
| Assets | |||||||||
| Cash | $ | 33,019 | $ | 37,839 | $ | 38,623 | |||
| Accounts receivable, net | 93,822 | 65,556 | 54,152 | ||||||
| Merchandise inventory | 117,963 | 89,253 | 57,112 | ||||||
| Prepaid expenses | 10,112 | 9,933 | 4,513 | ||||||
| Plant assets, net | 293,749 | 270,406 | 247,800 | ||||||
| Total assets | $ | 548,665 | $ | 472,987 | $ | 402,200 | |||
| Liabilities and Equity | |||||||||
| Accounts payable | $ | 136,618 | $ | 81,533 | $ | 53,090 | |||
| Long-term notes payable secured by mortgages on plant assets | 106,243 | 106,611 | 88,886 | ||||||
| Common stock, $10 par value | 162,500 | 162,500 | 162,500 | ||||||
| Retained earnings | 143,304 | 122,343 | 97,724 | ||||||
| Total liabilities and equity | $ | 548,665 | $ | 472,987 | $ | 402,200 | |||
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.
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Authors: Eddie McLaney, Peter Atrill
2nd Edition
0273655507, 978-0273655503
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