Question
Simon Companys year-end balance sheets follow. At December 31 2017 2016 2015 Assets Cash $ 35,286 $ 41,246 $ 40,887 Accounts receivable, net 101,276 68,676
Simon Companys year-end balance sheets follow.
| At December 31 | 2017 | 2016 | 2015 | ||||||
| Assets | |||||||||
| Cash | $ | 35,286 | $ | 41,246 | $ | 40,887 | |||
| Accounts receivable, net | 101,276 | 68,676 | 54,516 | ||||||
| Merchandise inventory | 124,839 | 95,381 | 58,060 | ||||||
| Prepaid expenses | 11,143 | 10,407 | 4,634 | ||||||
| Plant assets, net | 308,101 | 284,846 | 254,903 | ||||||
| Total assets | $ | 580,645 | $ | 500,556 | $ | 413,000 | |||
| Liabilities and Equity | |||||||||
| Accounts payable | $ | 143,135 | $ | 86,286 | $ | 55,606 | |||
| Long-term notes payable secured by mortgages on plant assets | 111,344 | 117,430 | 93,098 | ||||||
| Common stock, $10 par value | 162,500 | 162,500 | 162,500 | ||||||
| Retained earnings | 163,666 | 134,340 | 101,796 | ||||||
| Total liabilities and equity | $ | 580,645 | $ | 500,556 | $ | 413,000 | |||
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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Principles Of Food Beverage And Labor Cost Controls
Authors: Paul R. Dittmer, J. Desmond Keefe III
9th Edition
0471783471, 978-0471783473
