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Homework answers / question archive / Simon Company's year-end balance sheets follow

Simon Company's year-end balance sheets follow

Management

Simon Company's year-end balance sheets follow.

 

At December 31 2017, 2016, 2015

Assets         Cash$32,944  $37,761  $39,343  Accounts receivable, net 89,921  64,774  52,981 Merchandise inventory 118,886  85,594  56,431 Prepaid expenses 10,609  9,618  4,328 Plant assets, net 289,757

  269,595  244,317 Total assets$542,117 $467,342 $397,400 Liabilities and Equity         Accounts payable$133,637 $79,771 $51,932 Long-term notes payable secured by

mortgages on plant assets 103,956  110,713  88,704 Common stock, $10 par value 162,500  162,500  162,500 Retained earnings 142,024  114,358  94,264 Total liabilities and equity$542,117 $467,342 $397,400 

 

1. Compute the current ratio for the year ended 2017, 2016, and 2015.

2. Compute the acid-test ratio for the year ended 2017, 2016, and 2015.

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