Simon Company's year-end balance sheets follow

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 $ 29,328 83,351 103,760 9,078 257,087 $ 482,604 $ 32,285 $ 34, 323 57,663 45,764 76,967 50, 226 8,737 3,775 240,386 216,112 $ 416,038 $ 350, 200 $ 120,168 $ 70,310 $ 44,840 88,915 162,500 111,021 $ 482,604 96,646 75,072 162,500 162,500 86,582 67, 788 $ 416,038 $ 350, 200 (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 Choose Numerator: Choose Denominator: Current assets Current liabilities $ 482,6041 1 Current Yr: 1 Yr Ago: 2 Yrs Ago: Current Ratio Current ratio 0 to 1 0 to 1 0 to 1 Required 1A Required 1B >
Required 1A Required 1B Required 2A Required 2B Compute the acid-test ratio for each of the three years. Acid-test ratio Choose Numerator: 1 Choose Denominator: + Current Yr: 1 Yr Ago: 2 Yrs Ago: + Acid-Test Ratio Acid-test ratio 0 to 1 0 to 1 0 to 1 = = = + +