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Use the following information for the Exercises below. ( Algo ) [ The following information applies to the questions displayed below. ] Simon Company's year
Use the following information for the Exercises below. Algo The following information applies to the questions displayed below. Simon Company's yearend balance sheets follow. tableAt December Current Year, Year Ago,Years AgoAssetsCash$$$Accounts receivable, net,Merchandise inventory,Prepaid expenses,Plant assets, net,Total assets,$$$Liabilities and Equity,,,,Accounts payable,$$$Longterm notes payable,Common stock, $ par value,Retained earnings,Total liabilities and equity,$$$ For both the current year and one year ago, compute the following ratios: Exercise Algo Analyzing liquidity LO P a Compute the current ratio for each of the three years. b Did the current ratio improve or worsen over the threeyear period? a Compute the acidtest ratio for each of the three years. b Did the acidtest ratio improve or worsen over the threeyear period? Complete this question by entering your answers in the tabs below. Required A Required Required A Required B Compute the current ratio for each of the three years. tableCurrent RatioNumerator:,Denominator:,Current RatioCurrent ratioCurrent Year:,,to Year Ago:,,to Years Ago:,,to Required A Required B Required A Required B Compute the acidtest ratio for each of the three years.
Use the following information for the Exercises below. Algo
The following information applies to the questions displayed below.
Simon Company's yearend balance sheets follow.
tableAt December Current Year, Year Ago,Years AgoAssetsCash$$$Accounts receivable, net,Merchandise inventory,Prepaid expenses,Plant assets, net,Total assets,$$$Liabilities and Equity,,,,Accounts payable,$$$Longterm notes payable,Common stock, $ par value,Retained earnings,Total liabilities and equity,$$$
For both the current year and one year ago, compute the following ratios:
Exercise Algo Analyzing liquidity LO P
a Compute the current ratio for each of the three years.
b Did the current ratio improve or worsen over the threeyear period?
a Compute the acidtest ratio for each of the three years.
b Did the acidtest ratio improve or worsen over the threeyear period?
Complete this question by entering your answers in the tabs below.
Required A
Required
Required A
Required B
Compute the current ratio for each of the three years.
tableCurrent RatioNumerator:,Denominator:,Current RatioCurrent ratioCurrent Year:,,to Year Ago:,,to Years Ago:,,to
Required A
Required B
Required A
Required B
Compute the acidtest ratio for each of the three years.
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