Simon Company's year-end balance sheets follow. Current Yr1 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 $ 29,566 88,287 106,651 9,906 271,763 $ 506,173 $ 34,908 62,312 83,148 8,989 247,098 $ 436,356 $ 34,941 46,587 51, 635 4, eee 219,337 $ 356,500 $ 127,297 $ 73,897 $ 47,999 95,161 162,500 121,215 $ 506,173 98,355 78,787 162,500 162,500 102,494 67,214 $ 436,356 $ 356,500 (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? LU TUI ball or menee 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? Check my work Complete this question by entering your answers in the tabs below. Required 1A Required 1B Required 2A Required 2B Compute the acid-test ratio for each of the three years. Acid-test ratio Choose Numerator: Choose Denominator: = Acid-Test Ratio Acid-lest ratio Current Yr: 1 Yr Ago: 2 Yrs Ago: Simon Company's year-end balance sheets follow. Current Y 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, sie par value Retained earnings Total liabilities and equity $ 26,756 89,880 112,500 8,616 22e,482 $ 458,074 $ 31,275 $ 32,579 62,200 50,700 85, eee 52,eee 3,620 208, 206 193, 5e1 $ 394,891 $ 332,400 8,219 $ 112,920 $ 66,069 $ 43,438 85,257 162,580 97,397 $ 458,074 89,917 72,726 162,5ee 162.See 76,485 53,736 394,891 $ 332,400 The company's income statements for the Current Year and 1 Year Ago, follow. Assume that all sales are on credit: For Year Ended December 31 Sales Cost of goods sold other operating expenses Interest expense Current Yr $ 595,496 363, 253 184,684 10,123 $ 1 Yr Ago $469,92 305, 448 118,899 18,808 Help Sa For Year Ended December 31 Sales Cost of goods sold Other operating expenses Interest expense Income tax expense Total costs and expenses Net income Earnings per share Current Yr $ 595,496 $ 363, 253 184,604 10,123 7,741 565,721 $ 29,775 $ 1.83 1 Yr Ago $ 469,92 $ 305, 448 118,890 10,888 7,049 442,195 $ 27,725 $ 1.71 (1-a) Compute days' sales uncollected. (1-b) For each ratio, determine if it improved or worsened in the current year. Complete this question by entering your answers in the tabs below. Required 1A Required 1B Compute days' sales uncollected. Required information Complete this question by entering your answers in the tabs below. Required 1A Required 1B Compute days' sales uncollected. Choose Numerator: Days' Sales Uncollected 7 Choose Denominator: X Days = = Current Yr: 1 Yr Ago: Days' Sales Uncollected Days' Sales Uncollected days days Required information [The following information applies to the questions displayed below) Simon Company's year-end balance sheets follow. Current Y 1 Yr Ago 2 Yrs Ago $ 26,756 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 112,500 8,616 220,402 $ 458,074 $ 31,275 $ 32,579 62,200 50,700 85, eee 52, eee 8,210 3,620 208, 206 193, 501 $ 394,891 $ 332,480 $ 112,920 $ 66,069 $ 43, 438 85,257 162,50 97,397 $ 458,074 89,917 72, 726 162,500 162,500 76,485 53,736 $ 394,891 $ 332,400 Help Save $ 458,074 $ 394,891 $ 332,480 $ 112,920 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 $ 66,869 $ 43,438 85,257 162,500 97,397 $ 458,074 89,917 72,726 162,500 162,5ee 76,485 53,736 $ 394,891 $ 332,400 The company's income statements for the Current Year and 1 Year Ago, follow. Assume that all sales are on credit $ For Year Ended December 31 Sales Cost of goods sold Other operating expenses Interest expense Income tax expense Total costs and expenses Net income Earnings per share Current Yr $ 595,496 $363, 253 184,604 10,123 7,741 565,721 $ 29,775 $ 1.83 1 Yr Ago $ 469,928 305,448 118,89 10,888 7,849 442,195 $ 27,725 $ 1.71 (2-a) Compute accounts receivable turnover. (2-b) For each ratio, determine if it improved or worsened in the current year. Complete this question by entering your answers in the tabs below. Required 2A Required 2B Compute accounts receivable turnover. Accounts Receivable Turnover 1 Choose Denominator: Choose Numerator: = = Current Yr: 1 Yr Ago: Accounts Receivable Turnover Accounts receivable turnover times times