Simon Company's year-end balance sheets follow.
At December 31 2017 2016 2015
Assets
Cash $ 27,286 $ 32,545 $ 34,254
Accounts receivable, net 79,083 58,094 45,211
Merchandise inventory 98,417 76,014 49,629
Prepaid expenses 9,056 8,629 3,960
Plant assets, net 258,067 231,536 216,446
Total assets $ 471,909 $ 406,818 $ 349,500
Liabilities and Equity Accounts payable $ 119,855 $ 67,377 $ 47,057
Long-term notes payable secured by mortgages on plant assets 86,945 96,375 75,695
Common stock, $10 par value 163,500 163,500 163,500
Retained earnings 101,609 79,566 63,248
Total liabilities and equity $ 471,909 $ 406,818 $ 349,500
Required:
1. Compute the current ratio for the years ended December 31, 2017, 2016 and 2015.
2. Compute the acid-test ratio for the years ended December 31, 2017, 2016 and 2015.

Which of the following accurately describes one way that individual goods differ from public goods? a. people can be excluded from using individual goods if they don't pay. b. all individual goods are normal goods. c. demand for individual goods is always inelastic. d. consumer rivalry results in decreasing marginal utility for individual goods.2b2t

Fred smithers, a recent college graduate decided to open his own portable juice bar, smithers smoothies, to wheel around newport beach. you, a trusted friend of fred, are a business major that has also recently graduated and agreed to handle the books for a while to get some practical experience and have a favor that you can ask of fred in the future. given the following five transactions concerning the new venture, prepare the necessary journal entries for the transactions, post the journal entries to appropriate t accounts and prepare a trial balance as of the end of the month in order to answer to the necessary may 2: fred invests $12,000 of his own money to start the new company. this money was obtained from a part-time job working at a legal firm while he was in school. may 3: fred spent $5,100 cash to purchase a refrigerated trailer that he can pull behind his car and set up at the beach. under your advice, fred agrees to place the new asset under an account called "equipment." may 6: fred bought $640 of supplies on account from the flav-o-rite confectioners company. because they will last longer than a single accounting period fred agrees to record them as, "supplies" as per your suggestion. may 13: fred sat on the beach for six hours without a single sale and was feeling very down. right before he left, however, a plumber escorting his family reunion along the beach stopped by his stand and bought $800 worth of smoothies for the entire family. under your advice, fred agrees to call this cash revenue, "sales." may 15: excited about his new venture, fred withdraws $350 from the company to take his girlfriend out to dinner. what would be the balance in the cash account at the end of the period following the posting of all the transactions?

The master manufacturing company has just announced a tender offer for its own common stock. master is offering to buy up to 100% of the company's stock at $20 per share contingent on at least 64% of the outstanding shares being tendered. after the announcement of the offer, the stock closed on the nyse up 2.50 at $18.75. a customer has 100 shares of master stock in his cash account. the customer tells you that he wishes to "cash out" his position. you should recommend that the customer: