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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 $ 34,134 94,128 118,348 10,565 304,513 $ 561,688 $ 38,350 $ 38,381 69,146 53, 264 86,892 55,613 10,474 4,221 279,352 244,121 $ 484,214 $ 395,600 $ 141,259 $ 83,469 $ 51,697 108, 765 162,500 149,164 $ 561,688 108,028 87,428 162,500 162,500 130,217 93,975 $ 484,214 $ 395,600 Compute the current ratio for each of the three years. = Current Ratio Choose Numerator: Choose Denominator: 1 1 11 Current Ratio Current ratio to 1 to 1 Il Current Yr: 1 Yr Ago: 2 Yrs Ago: 11 to 1 Compute the acid-test ratio for each of the three years. Acid-test ratio Choose Numerator: 1 Choose Denominator: = Acid-Test Ratio + = Acid-test ratio Current Yr: + + 1 = o to 1 1 Yr Ago: + + = 0 to 1 1 1 2 Yrs Ago: + + = oto 1
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