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Simon Company's year-end balance sheets follow At December 31 2017 2016 2015 Assets Cash Accounts...

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Accounting

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Simon Company's year-end balance sheets follow At December 31 2017 2016 2015 Assets Cash Accounts receivable, net Merchandise inventor Prepaid expense:s Plant assets, net Total assets $ 29,082 $ 33,651 59, 490 80, 995 8, 743 246, 345 85, 992 105,978 9, 555 267, 293 34,696 48,169 50, 792 3, 855 223, 788 $497, 900 $429,224 $ 361, 300 Liabilities and Equity Accounts payable Long-term notes payable secured by 125, 217 $ 73, 264 $ 47, 692 mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity 79, 049 162, 500 162, 500 92, 76472, 059 $ 497,900 429, 224 $ 361, 300 93, 605 162, 500 116,578 100, 696 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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