connect ch-17
shahimermaid (Not rated)
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Simon Company’s year-end balance sheets follow.
| At December 31 | 2014 | 2013 | 2012 | |||||||
| Assets | ||||||||||
| Cash | $ | 31,124 | $ | 37,116 | $ | 37,139 | ||||
| Accounts receivable, net | 89,296 | 63,024 | 50,530 | |||||||
| Merchandise inventory | 112,273 | 84,132 | 53,270 | |||||||
| Prepaid expenses | 9,922 | 9,839 | 4,084 | |||||||
| Plant assets, net | 290,243 | 265,249 | 237,777 | |||||||
| Total assets | $ | 532,858 | $ | 459,360 | $ | 382,800 | ||||
| Liabilities and Equity | ||||||||||
| Accounts payable | $ | 134,008 | $ | 75,303 | $ | 51,035 | ||||
| Long-term notes payable secured by mortgages on plant assets | 102,181 | 107,766 | 82,907 | |||||||
| Common stock, $10 par value | 162,500 | 162,500 | 162,500 | |||||||
| Retained earnings | 134,169 | 113,791 | 86,358 | |||||||
| Total liabilities and equity | $ | 532,858 | $ | 459,360 | $ | 382,800 | ||||
(1) Compute the current ratio for the year ended 2014, 2013, and 2012.
(2) Compute the acid-test ratio for the year ended 2014, 2013, and 2012. |
10 years ago
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