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 Corrmon stock, $10 par value Retained earnings Total liabilities and equity 35,648 103,318 129,903 11,366 317,984 $ 598,219 $ 40,019 $ 43,388 70,755 57,289 96,360 61,629 11,646 4,634 297,526 258,560 $ 515,706 $ 425,500 $ 147,467 88,026 $ 56,728 111,341 162,500 176,911 $ 598,219 122,171 92,155 162,500 162,500 143,009 114,117 $ 515,706 $ 425,500 (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? Comnlete this question by entering vour answers in the tabs below. (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. Current Ratio 1 Choose Denominator: Choose Numerator: Current Ratio Current ratio to 1 to 1 Current Yr: 1 Yr Ago: 2 Yrs Ago: to 1 Required 1A Required 1B > (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 Check my wo (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 Compute the acid-test ratio for each of the three years. Acid test ratio Choose Numerator Choose Denominator: - Acid Test Ratio Acid-test ratio to 1 + + Current Ye: 1 Yr Ago: 2 Yrs Ago: to 1 to 1 + (1-b) Did the current ratio improve or worsen over the three year perio (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 per Complete this question by entering your answers in the tabs bele Required 1A Required 1B Required 2A Required 2B Did the acid-test ratio improve or worsen over the three year period? Acid-test ratio
