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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 secured by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity $ 31,800 $ 35,625 $ 37,800 89,500 62,500 50,200 112,500 82,500 54,000 10.700 9,375 5,000 278,500 255,000 230,500 $ 523,000 $ 445,000 $ 377,500 $ 129,900 $ 75,250 $ 51,250 98,500 163,500 131,100 $ 523,000 101,500 83,500 163,500 163,500 104,750 79,250 $ 445,000 $ 377,500 Required 1A Required 18 Required 2A Required 2B Compute the acid-test ratio for each of the three years. Acid-Test Ratie Choose Numerator: Choose Denominator: 1 1 Current Yr 1 Yr Ago: 2 Yrs Ago Acid-Test Ratio Acid-test ratio 0 to 1 O to 1 O to 1 1 1
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