Simon Company\'s year-end balance sheets follow 2017 2016 2015 At December 31 As

Question

Simon Company's year-end balance sheets follow 2017 2016 2015 At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets $ 26,182 $ 30,604 $ 31,254 42,923 43,933 3,403 194,187 $ 448,244 $386,417 $ 315,700 54,639 73,632 8,196 242,115219,346 74,350 97,336 8,261 Liabilities and Equity Accounts payable Long-term notes payable secured by $ 112,729 $ 65,958 $ 40,839 mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity 71,863 162,500 40,498 $ 448,244 $386,417 $ 315,700 82,584 162,500 90,431 87,987 162,500 69,972

Explanation / Answer

1 Year Current Assets Current Liabilities Current Ratio (Current assets/Current Liabilities) 2017 26182+74350+97336+8261= 206129 112729 1.83 2016 30604+54639+73632+8196= 167071 65958 2.53 2015 31254+42923+43933+3403= 121513 40839 2.98 2 Year Cash Short Term Investments Current receivables Current Liabilities Acid Test Ratio=(Cash+Short Term Inv.+ Acct. Receivables)/Current Liabilities 2017 26182 0 74350 112729 0.89 2016 30604 0 54639 65958 1.29 2015 31254 0 42923 40839 1.82

Related Questions

Navigate

• Browse (All)
• Browse S
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.