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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
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 Common stock, $10 par value Retained earnings Total liabilities and equity $ 26,676 79,681 99,192 9,029 246, 781 $ 461,359 $ 31,181 $ 33,482 54,568 45,089 73,579 48,505 8,185 3,683 230,210 207, 441 $ 397,723 S 338,200 $ 113, 730 85,001 163,500 99,128 $ 461,359 $ 65,871 $ 45,089 94,221 73,247 162,500 162,500 75,131 57,364 $ 397,723 $ 338,200 7-a) Compute the current ratio for each of the three years. 7-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 Compute the acid-test ratio for each of the three years. Acid-tost ratio Choose Numerator: Choose Denominator: Current Yr: Yr Ago: Yrs Ago
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