Simon Company’s year-end balance sheets follow. At December 31 Current Yr 1 Yr Ago 2 Yrs...
Simon Company’s year-end balance sheets follow.
| At December 31 | Current Yr | 1 Yr Ago | 2 Yrs Ago | |||||||
| Assets | ||||||||||
| Cash | $ | 33,360 | $ | 38,215 | $ | 41,026 | ||||
| Accounts receivable, net | 95,721 | 68,923 | 53,618 | |||||||
| Merchandise inventory | 122,782 | 90,176 | 58,263 | |||||||
| Prepaid expenses | 10,421 | 9,929 | 4,558 | |||||||
| Plant assets, net | 303,142 | 280,193 | 252,835 | |||||||
| Total assets | $ | 565,426 | $ | 487,436 | $ | 410,300 | ||||
| Liabilities and Equity | ||||||||||
| Accounts payable | $ | 137,975 | $ | 82,377 | $ | 52,535 | ||||
| Long-term notes payable secured by mortgages on plant assets |
105,237 | 113,231 | 91,583 | |||||||
| Common stock, $10 par value | 162,500 | 162,500 | 162,500 | |||||||
| Retained earnings | 159,714 | 129,328 | 103,682 | |||||||
| Total liabilities and equity | $ | 565,426 | $ | 487,436 | $ | 410,300 | ||||
(1-a) 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?
Compute the current ratio for each of the three years.
|
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Compute the acid-test ratio for each of the three years.
|
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Homework Answers
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Simon Company’s year-end balance sheets follow.
At December 31
Current Yr
1 Yr Ago
2 Yrs...
Simon Company’s year-end balance sheets follow. At December 31 Current Yr 1 Yr Ago 2 Yrs...
Simon Company’s year-end balance sheets follow. At December 31 Current Yr 1 Yr Ago 2 Yrs Ago Assets Cash $ 32,000 $ 38,160 $ 40,951 Accounts receivable, net 91,808 68,103 53,011 Merchandise inventory 118,965 89,993 55,887 Prepaid expenses 10,201 10,116 4,462 Plant assets, net 294,873 265,910 247,289 Total assets $ 547,847 $ 472,282 $ 401,600 Liabilities and Equity Accounts payable $ 139,142 $ 79,816 $ 52,481 Long-term notes payable secured by mortgages on plant assets 100,935 107,539 90,529 Common stock,...
Simon Company’s year-end balance sheets follow. At December 31 Current Yr 1 Yr Ago 2 Yrs...
Simon Company’s year-end balance sheets follow. At December 31 Current Yr 1 Yr Ago 2 Yrs Ago Assets Cash $ 28,607 $ 34,818 $ 34,484 Accounts receivable, net 87,187 59,726 48,349 Merchandise inventory 107,471 79,720 49,972 Prepaid expenses 9,592 9,049 3,990 Plant assets, net 267,010 247,607 222,305 Total assets $ 499,867 $ 430,920 $ 359,100 Liabilities and Equity Accounts payable $ 120,733 $ 74,282 $ 48,349 Long-term notes payable secured by mortgages on plant assets 95,854 99,112 80,948 Common stock,...
Simon Company's year-end balance sheets follow. Current Yr 1 Yr Ago 2 Yrs Ago At December...
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 $ 31,596 92,499 119,789 10,483 286,564 $ 540,931 $ 37,679 $ 38,856 65,938 50,269 87,132 56,285 9,597 4, 189 265,974 239,001 $ 466,320 $...
Simon Company's year-end balance sheets follow. Current Yr 1 Yr Ago 2 Yrs Ago $ 28,742...
Simon Company's year-end balance sheets follow. Current Yr 1 Yr Ago 2 Yrs Ago $ 28,742 81,653 105, 775 9,164 256,994 $ 482,328 $ 32,599 $ 34,997 58,794 46,662 78,461 49,700 8,732 3,812 237,214 214,829 $415,800 $ 350,000 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...
Simon Company's year-end balance sheets follow. Current Y 1 Yr Ago 2 Yrs Ago At December...
Simon Company's year-end balance sheets follow. Current Y 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 $ 26,426 78,108 94,392 8,510 236,030 $ 443,466 $ 29,972 $ 32,177 52,451 42,053 71,432 45,239 7,787 3,540 220,656 198,791 5 382,298 5 321,880...
Simon Company's year-end balance sheets follow. Current Yr 1 Yr Ago 2 Yrs Ago At December...
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 $ 32,734 96,790 122,900 10,541 297,454 $560,419 $ 39,036 $ 39,857 68,313 52,612 88,483 57, 169 10,247 4,517 277,041 248,445 $483,120 $402,600 $142,335 $...
Simon Company's year-end balance sheets follow. Current Yr 1 Yr Ago 2 Yrs Ago At December...
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 $ 32,995 97,276 122, 306 10,596 294,626 $ 557,709 $ 38,847 $ 40,867 65,964 52,886 88,056 58,617 10,197 4, 363 277,720 247,967 $ 480,784...
Simon Company's year-end balance sheets follow. 1 Yr Ago At December 31 Current Yr 2 Yrs...
Simon Company's year-end balance sheets follow. 1 Yr Ago At December 31 Current Yr 2 Yrs Ago Assets 43,294 $ 78,060 101,128 11,824 312,332 Cash $ 36,664 109,515 139,e58 12,409 336,454 45,540 60,720 65,320 5,011 Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net 270,e09 546,638 446,600 634,100 Total assets Liabilities and Equity Accounts payable Long-term notes payable secured by mortgages on plant assets Common stock, $1e par value Retained earnings $ 157,891 $ 93,306 58,951 119,211 162,50e 194,498...
Simon Company’s year-end balance sheets follow. At December 31 Current Yr 1 Yr Ago 2 Yrs...
Simon Company’s year-end balance sheets follow. At December 31 Current Yr 1 Yr Ago 2 Yrs Ago Assets Cash $ 36,531 $ 41,420 $ 44,916 Accounts receivable, net 109,053 74,726 59,888 Merchandise inventory 133,120 97,758 65,056 Prepaid expenses 11,999 10,985 4,844 Plant assets, net 328,459 308,871 270,096 Total assets $ 619,162 $ 533,760 $ 444,800 Liabilities and Equity Accounts payable $ 151,088 $ 91,107 $ 59,301 Long-term notes payable secured by mortgages on plant assets 119,895 122,765 101,250 Common stock,...
Simon Company’s year-end balance sheets follow. At December 31 Current Yr 1 Yr Ago 2 Yrs...
Simon Company’s year-end balance sheets follow. At December 31 Current Yr 1 Yr Ago 2 Yrs Ago Assets Cash $ 34,812 $ 42,370 $ 42,388 Accounts receivable, net 101,936 75,616 58,265 Merchandise inventory 130,781 98,951 61,425 Prepaid expenses 11,789 10,682 4,904 Plant assets, net 328,966 296,764 274,418 Total assets $ 608,284 $ 524,383 $ 441,400 Liabilities and Equity Accounts payable $ 156,007 $ 88,621 $ 60,013 Long-term notes payable secured by mortgages on plant assets 116,645 118,196 99,500 Common stock,...
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 $ 31,596 92,499 119,789 10,483 286,564 $ 540,931 $ 37,679 $ 38,856 65,938 50,269 87,132 56,285 9,597 4, 189 265,974 239,001 $ 466,320 $...
Simon Company's year-end balance sheets follow. Current Yr 1 Yr Ago 2 Yrs Ago $ 28,742 81,653 105, 775 9,164 256,994 $ 482,328 $ 32,599 $ 34,997 58,794 46,662 78,461 49,700 8,732 3,812 237,214 214,829 $415,800 $ 350,000 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...
Simon Company's year-end balance sheets follow. Current Y 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 $ 26,426 78,108 94,392 8,510 236,030 $ 443,466 $ 29,972 $ 32,177 52,451 42,053 71,432 45,239 7,787 3,540 220,656 198,791 5 382,298 5 321,880...
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 $ 32,734 96,790 122,900 10,541 297,454 $560,419 $ 39,036 $ 39,857 68,313 52,612 88,483 57, 169 10,247 4,517 277,041 248,445 $483,120 $402,600 $142,335 $...
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 $ 32,995 97,276 122, 306 10,596 294,626 $ 557,709 $ 38,847 $ 40,867 65,964 52,886 88,056 58,617 10,197 4, 363 277,720 247,967 $ 480,784...
Simon Company's year-end balance sheets follow. 1 Yr Ago At December 31 Current Yr 2 Yrs Ago Assets 43,294 $ 78,060 101,128 11,824 312,332 Cash $ 36,664 109,515 139,e58 12,409 336,454 45,540 60,720 65,320 5,011 Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net 270,e09 546,638 446,600 634,100 Total assets Liabilities and Equity Accounts payable Long-term notes payable secured by mortgages on plant assets Common stock, $1e par value Retained earnings $ 157,891 $ 93,306 58,951 119,211 162,50e 194,498...
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