html Check my work mode: This shows what is correct or incorrect for the work yo

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html Check my work mode: This shows what is correct or incorrect for the work you have c 3 Simon Company's year-end balance sheets follow 10 points Cash 35,696 $ 48,987 $ 42,185 182,442 126,251 11,270 72,302 97,435 Prepaid expenses 4,460 253,196 Plant assets, net Total assets 289.736 593,146 $511,333 $ 413, 780 and Equity 5 146,216 86,415$55, 154 mortgages on plant assets Common stock, $1e par value Retained e Total liabilities and equity 89,599 162,508 106,447 s 593,146 $ 511,333 S 413,700 162,500 162,58e 172,919 1. Compute the current ratio for the yeàr ended 2017, 2016. and 2015 2 Compute the acid-test ratio for the year ended 2017, 2016, and 2015 Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below

Explanation / Answer

CURRENT RATIO Cash + Accounts recievable + Inventories   + Prepaid expense   / Current liabilities = Current year 2017 35696 102442 126251 11270 146216 1.89 2016 40907 72302 97435 10953 86415 2.56 2015 42185 55701 58158 4460 55154 2.91 Req 2: ACID test ratio Cash + Short term investment   + Current Receivable / Current liabilities = Acid test ratio 2017 35696 0 102442 146216 0.94 2016 40907 0 72302 86415 1.31 2015 42185 0 55701 55154 1.77

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