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Simon Companys year-end balance sheets follow. At December 31 2017...

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Accounting

Simon Companys year-end balance sheets follow.

At December 31 2017 2016 2015
Assets
Cash $ 27,923 $ 33,985 $ 32,679
Accounts receivable, net 85,935 58,886 45,369
Merchandise inventory 105,949 76,257 47,839
Prepaid expenses 9,270 8,833 3,743
Plant assets, net

258,832

 242,650 210,670
Total assets $ 487,909 $ 420,611 $ 340,300
Liabilities and Equity
Accounts payable $ 119,060 $ 71,083 $ 46,267
Long-term notes payable secured by mortgages on plant assets 92,644 93,838 75,206
Common stock, $10 par value 162,500 162,500 162,500
Retained earnings 113,705 93,190 56,327
Total liabilities and equity $ 487,909 $ 420,611 $ 340,300

1. Compute the current ratio for the year ended 2017, 2016, and 2015. 2. Compute the acid-test ratio for the year ended 2017, 2016, and 2015.

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