Help Save & C Required information (The following information applies to the questions displayed below.) Simon Company's

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: Help Save C Required Information The Following Information Applies To The Questions Displayed Below Simon Company S 1 (108.88 KiB) Viewed 56 times

: Help Save C Required Information The Following Information Applies To The Questions Displayed Below Simon Company S 2 (94.2 KiB) Viewed 56 times

: Help Save C Required Information The Following Information Applies To The Questions Displayed Below Simon Company S 3 (84.69 KiB) Viewed 56 times

Help Save & C Required information (The following information applies to the questions displayed below.) Simon Company's year-end balance sheets follow. Current Year 1 Year Ago 2 Years Ago $ 29, 226 85,546 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 Common stock, $10 par value Retained earnings Total liabilities and equity 104,394 9,412 261,880 $ 490,458 $ 33,825 60,377 76,655 8,790 243, 162 $ 422,809 $ 34,882 47,449 50,032 3,797 219, 740 $ 355,900 $ 122, 124 91,284 163,500 113,550 $ 490,458 $ 72,884 99, 191 162,500 88, 234 $ 422,809 $ 46,979 78,654 163,500 66,767 $ 355, 900 For both the current year and one year ago, compute the following ratios: (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 < Prev 8 of 12 HE Next
Long-term notes payable Common stock, $10 par value Retained earnings Total liabilities and equity 91,284 163,500 113,550 $ 490, 458 99, 191 162,500 88,234 $ 422,809 78,654 163,500 66,767 $ 355, 900 For both the current year and one year ago, compute the following ratios: (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. Numerator: Current Ratio 1 Denominator: / Current liabilities = Current Ratio Current assets = Current ratio / = oto 1 Current Year: 1 Year Ago: 2 Years Ago: 0 to 1 1 1 = 0 to 1 Required 1A Required 1B < Prev 8 of 12 Next > IH
Long-term notes payable Common stock, $10 par value Retained earnings Total liabilities and equity 91,284 163,500 113,550 $ 490, 458 99, 191 162,500 88,234 $ 422,809 78,654 163,500 66, 767 $ 355,900 For both the current year and one year ago, compute the following ratios: (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 acid-test ratio for each of the three years. Acid-test ratio Numerator: Denominator: Cash Short-term investments + Current Year: + + / Acid-Test Ratio Acid-test ratio 0 to 1 0 to 1 0 to 1 + + / = 1 Year Ago: 2 Years Ago: + + 1 = < Required 1B Required 2B > Droi of 12 Mont