question archive (Common-size percents) Simon Company's year-end balance sheets follows

(Common-size percents) Simon Company's year-end balance sheets follows

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(Common-size percents) Simon Company's year-end balance sheets follows. Express the balance sheets in common-size persents. Round amounts to the nearest one-tenth of a percent. Analyze and comment on the results.

2. Analyze its year-end short term liquidity position at the end of 2015, 2014, and 2013 by computing (1) the current ratio and (2) the acid-test ratio. Comment on the ratio results. (round ratio to two decimals)

At December 31 2015 2014 2013
Assets      
Cash $31,800 $35,625 $37,800
Accounts receivable,net 89,500 62,500 50,200
Merchandise inventory 112,500 82,500 54,000
Prepaid expenses 10,700 9,375 5,000
Plant assets,net 278,500 255,000 230,500
Total assets $523,000 $445,000 $377,500
Liabilities and Equity      
Accounts payable $129,900 $75,250 $51,250

Long-term notes payable secured by

mortgage on plant assets

98,500 101,500 83,500
Common Stock, $10 par value 163,500 163,500 163,500
Retained earnings 131,100 104,750 79,250
Total Liabilities and equity $523,000 $445,000 $377,500
       
       

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