question archive (Common-size percents) Simon Company's year-end balance sheets follows
(Common-size percents) Simon Company's year-end balance sheets follows
Subject:AccountingPrice:2.85 Bought3
(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 |
Purchase A New Answer
Custom new solution created by our subject matter experts
GET A QUOTE
Answer Preview
please use this google drive link to download the answer file.
https://drive.google.com/file/d/1ZNmAJljJpWvdjA82qMZQOkmre2vx7_Ar/view?usp=sharing
note: if you have any trouble in viewing/downloading the answer from the given link, please use this below guide to understand the whole process
https://helpinhomework.org/blog/how-to-obtain-answer-through-googledrive-link
