Ch 13 Ex 13-7 Saved Help Save & Exit Submit Check my work Simon Company's year-end balance sheets follow. Current Yr 1 Yr Ago 2 Yrs Ago points $ 26,535 77,669 93,825 8,461 238,811 $ 445,301 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 $ 31,018 $ 31,037 55,355 41,805 69,597 45,880 8,142 3,554 219, 768 197,624 $ 383,880 $ 319,900 eBook Hint Ask $ 108,662 $ 66,173 $ 41,805 Print 86,228 162,500 87,911 $ 445,301 89,175 162,500 66,032 $ 383,880 70,698 162,500 44,897 $ 319,900 References (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. 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 I Choose Denominator: Choose Numerator: Current Ratio Current ratio to 1 Current Yr: 1 Yr Ago: 2 Yrs Ago: to 1 to 1 Required 1A Required 1B > Complete this question by entering your answers in the tabs below. Required 1A Required 1B Required 2A Required 2B Did the current ratio improve or worsen over the three year period? Current ratio (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 28 Compute the acid-test ratio for each of the three years. Acid-test ratio Choose Numerator: Choose Denominator: + + + + Current Yr: 1 Yr Ago: 2 Yrs Ago: Acid-Test Ratio Acid-test ratio to 1 to 1 to 1 + (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 Did the acid-test ratio improve or worsen over the three year period? Acid-test ratio