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  3. simon company's year-end balance sheets follow. 20

Simon Company's year-end balance sheets follow. 2015 2014 2013 At December 31 Assets Cash Accounts...

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Accounting

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Simon Company's year-end balance sheets follow. 2015 2014 2013 At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net $ 31,800 $ 35,625 $ 37,800 89,500 62,500 50,200 112,500 82,500 54,000 10,700 9,375 5,000 278,500 255.000 230,500 Total assets $523,000 $445,000 $377,500 $ 129,900 $ 75,250 $ 51,250 Liabilities and Equity Accounts payable Long-term notes payable secured by mortgages on plant assets Common stock, $10 par value Retained earnings 98,500 163,500 131,100 101,500 163,500 104,750 83,500 163,500 79,250 Total liabilities and equity $523,000 $445,000 $ 377,500 (1) Compute the current ratio for the year ended 2015, 2014, and 2013. Current Ratio Choose Denominator: Current liabilities Current Ratio to Choose Numerator: Current assets 2015: 2014: 2013: Current ratio 0 to 1 0 to 1 0 to 1 (2)Compute the acid-test ratio for the year ended 2015, 2014, and 2013. Acid-Test Ratio = Choose Numerator: Short-term investments I Choose Denominator: 1 Current liabilities Cash + + Current receivables Acid-Test Ratio Acid-test ratio 0 to 1 oto 1 0 to 1 + 2015: 2014: 2013: + + + + +

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