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Simon Company's year-end balance sheets follow. Current Yr 1 Yr Ago 2 Yrs Ago At...

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Accounting

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Simon Company's year-end balance sheets follow. Current Yr 1 Yr Ago 2 Yrs Ago 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 $ 27,110 82,581 100,805 9,087 249, 279 $ 468,862 $ 32,335 $ 34,367 54,889 46,276 76,271 49,293 8,658 3,894 232,038 209,870 $ 404,191 $ 343,700 $ 114,412 $ 66,942 $ 45,822 85,502 91,105 74,439 162,500 162,500 162,500 106,448 83,644 60,939 $ 468,862 $ 404,191 $ 343,700 (1-6) 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

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