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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 $ 30,926 86,996 110,485 9,764 275, 715 $ 513, 886 $ 35,440 $ 35,810 63,881 48,731 81,956 53,481 9,582 3,979 252,146 230,899 $ 443,005 $ 372,900 $ 126,678 $ 75,617 $ 50,699 95,644 Y162,500 129,064 $ 513, 886 102,910 84,059 162,500 162,500 101,978 75,642 $ 443,005 $ 372,900 (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 Compute the current ratio for each of the three years. Check my work (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 28 es Compute the current ratio for each of the three years. Current Ratio Choose Denominator: Choose Numerator: = Current Ratio Current ratio to 1 Current Yr: 1 Yr Ago: 2 Yrs Ago: to 1 ### to 1 Required 1A Required 1B > (1-0) 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. 12-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 16 Required 2A Required 28 Compute the acid-test ratio for each of the three years. Acid.test ratio Choose Numerator: Choose Denominator: Acid-Test Ratio Acid-test ratio 101 to 1 lo 1 Current Yr: 1 Yr Ago: 2 Yrs Ago: +++ =
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