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 $ 31,655 92,663 114,199 9,990 288,017 $ 536,524 $ 35,892 $ 38,547 65,400 51,916 87, 278 55,849 9,422 4,456 264,529 242,532 $ 462,521 S 393,300 $ 136,266 $ 78,948 $ 51,396 100,867 162,500 136,891 $ 536, 524 105,316 85,181 162,5ee 162,500 115,257 94,223 $ 462,521 $ 393,300 (1-a) Compute the current ratio for each of the three years. (1-1) 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 current ratio for each of the three years. Current Ratio 1 Choose Denominator: Choose Numerator: Current Yr: 1 Yr Ago: 2 Yrs Ago: Current Ratio Current ratio to 1 to 1 HI to 1 Required 1B ) 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 $ 31,655 92,663 114,199 9,99 288,017 $ 536,524 $ 35,892 $ 38,547 65,480 51,916 87, 278 55,849 9,422 4,456 264,529 242,532 $ 462,521 $ 393, 380 $ 136,266 $ 78,948 $ 51,396 100,867 162,500 136,891 5 536,524 105,316 85,181 162,500 162,500 115,757 94,223 S 462,521 5393, 380 (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 Did the current ratio improve or worsen over the three year period? Current ratio 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 $31,655 92,663 114, 199 9,990 288,017 $ 536,524 5 35,8925 38,547 65,490 51,916 87,275 55,849 9,422 4,456 264,529 242,532 $ 462,521 $ 393,300 $ 136,266 $ 78,948 $ 51,396 100,867 162,500 136,891 $ 536,524 105,316 85,181 162,500 162,5ee 115,757 94,223 5462,521 5 393,380 (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 LA Required 10 Required 2A Required 28 Compute the acid-test ratio for each of the three years. Acid.estratio Choose Numerator: Choose Denominator Current Yr: 1 Yr Ago: 2 Yrs Ago: Acid-Test Ratio Acid-test ratio to 1 to 1 to 1
