Simon Company's year-end balance sheets follow. Current Y 1 Y Ago 2 YK Ago At December 31 Assets Canh Accounts receivable, net Metehandlun inventory Prepaid expenses Plant annets, net Total assets Liabilities and Equity Accounts payable Long-term poter payable secured by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity $ 26,640 77,210 96, 116 8, 324 238,759 $ 447,049 $ 30,523 31/152 52,875 42,393 72,723 45,144 7,931 3, 461 221,335 202,250 $385,387 $ 324,400 $ 111,315 $ 64,479 $ 41,964 85,726 162,500 B7/508 $ 447,049 89,525 70,259 162,500 162,500 6B, 882 49.627 $ 385,387 $ 324,400 (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 28 Compute the current ratio for each of the three years. Current Ratio Choose Denominator Choose Numerator Current Yr. 1 Yr Ago: Current Ratio Current ratio to 1 tot Common stock, $10 par value Retained earnings Total liabilities and equity 162,500 87,508 $ 447,049 162,500 162,500 68,883 49,677 $ 385,387 $ 324,400 (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 28 Compute the current ratio for each of the three years. Current Ratio 7 Choose Denominator Choose Numerator: Current Ratio Current ratio Current Yr: 1 Yr Ago: 2 Yrs Ago: to 1 to 1 to 1 Required 18 > $ 111,315 $ 64,479 $ 41,964 Accounts payable Long-term notes payable secured by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity 85,726 162,500 87,508 $ 447,049 B9,525 70,259 162,500 162,500 68,883 49,677 $ 385,387 $ 324,400 (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 current ratio improve or worsen over the three year period? Current ratio $ 111,315 Accounts payable Long-term notas payable secured by mortgages on plant anneta Common stock, $10 par value Retained earnings Total abilities and equity 85,726 162,500 87,500 $ 447,049 $ 64,479 $ 41,964 89,525 70,259 162,500 162,500 68,883 49,677 $ 385,387 $ 324,400 (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 perlod? Complete this question by entering your answers in the tabs below. Required IA Required 18 Required 2A Required 28 Compute the acid-test ratio for each of the three years. Acid-test ratio Choose Numerator Choose Denominator . Current Yr: 1 Yr Ago: 2 Yrs Ago Acid-Test Ratio Aold-test ratio to 1 to 1 to 1 - Simon Company's year-end balance sheets follow. Current Yr 1 Yr Ago 2 Yrs 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 secured by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity $ 26,640 77,210 96,116 8,324 238,759 $ 447,049 $ 30,523 $ 31,152 52,875 42,393 72,723 45, 144 7,931 3,461 221, 335 202,250 $ 385,387 $ 324,400 $ 111,315 $ 64,479 $ 41,964 85,726 162,500 87,508 $ 447,049 89,525 70,259 162,500 162,500 68,883 49,677 $ 385,387 $ 324,400 (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 1B Required 2A Required 2B Did the acid-test ratio improve or worsen over the three year period? Acid-test ratio
