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Business · Accounting
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Simon Company’s year-end balance sheets follow.

At December 31 2017 2016 2015
Assets
Cash $ 35,286 $ 41,246 $ 40,887
Accounts receivable, net 101,276 68,676 54,516
Merchandise inventory 124,839 95,381 58,060
Prepaid expenses 11,143 10,407 4,634
Plant assets, net

308,101

284,846 254,903
Total assets $ 580,645 $ 500,556 $ 413,000
Liabilities and Equity
Accounts payable $ 143,135 $ 86,286 $ 55,606
Long-term notes payable secured by
mortgages on plant assets
111,344 117,430 93,098
Common stock, $10 par value 162,500 162,500 162,500
Retained earnings 163,666 134,340 101,796
Total liabilities and equity $ 580,645 $ 500,556 $ 413,000


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.Complete this question by entering your answers in the tabs below. Required 1Required 2 Compute the current ratio for the years ended December 31, 2017, 2016, and 2015. Current Ratio Choose Numerator: ·Choose Denominator: Current Ratio Current ratio 2017: 2016: 2015: to 1 to 1 to 1 < Required 1 Required 2>Complete this question by entering your answers in the tabs below. Required 1Required 2 Compute the acid-test ratio for the years ended December 31, 2017, 2016, and 2015. Acid-Test Ratio Acid-Test Ratio Acid-test ratio Choose Numerator: Choose Denominator: 2017: 2016: 2015: to 1 to 1 to 1 Required 1 Required2

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