Reference no: EM132594617
Simon Company's year-end balance sheets follow.
At December 31 2017, 2016, 2015
Assets Cash $32,944 $37,761 $39,343
Accounts receivable, net 89,921 64,774 52,981
Merchandise inventory 118,886 85,594 56,431
Prepaid expenses 10,609 9,618 4,328
Plant assets, net 289,757 269,595 244,317
Total assets $542,117 $467,342 $397,400
Liabilities and Equity Accounts payable $133,637 $79,771 $51,932
Long-term notes payable secured by
mortgages on plant assets 103,956 110,713 88,704
Common stock, $10 par value 162,500 162,500 162,500
Retained earnings 142,024 114,358 94,264
Total liabilities and equity $542,117 $467,342 $397,400
Question 1. Compute the current ratio for the year ended 2017, 2016, and 2015.
Question 2. Compute the acid-test ratio for the year ended 2017, 2016, and 2015.
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