1 00:38:42 Simon Company's year-end balance sheets follow. At December 31- Assots Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable -bong-term notes payable secured by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity Current Yr 1 Yr Ago 2 Yrs Ago $ 27,631 $ 32,621 $ 32,967 78,4801 102,702 8,898 55,956 46,675 74,688 49,236 8,648 3,701 250,605 231,808 210,721 $ 468,316 $ 403,721 $343,300 $ 118,943 88,043) 162,500 $ 67,547 $ 46,222 98,830 $ 468,316 93,784 76,628 162,500 79,890 162,500 57,950 $ 403,721 $ 343,300 (1-a) Compute the current ratio for each of the three years. (1-b) Did the current ratio improve or worsen over the three year period? (2-a) Compute the acid-test ratio for each of the three years. (2-b) Did the acid-test ratio improve or worsen over the three year period? 30 the three years. (2-b) Did the acid-test ratio improve or worsen over the three year period? Complete this question by entering your answers in the tabs below. Required 1A Required 1B Required 2A Required 2B Compute the current ratio for each of the three years. Current Ratio Current Yr: 1 Yr Ago: 2 Yrs Ago: Choose Numerator: Choose Denominator: Current Ratio Current ratio to 1 to 1 to 1 Required SA Required 1B > Complete this question by entering your answers in the tabs below. Required 1A Required 1B Required 2A Required 2B Did the current ratio improve or worsed over the three year period? Current ratio year period? Complete this question by entering your answers in the tabs below. Required 1A Required 18 Required 2A Required 2B Compute the acid-test ratio for each of the three years. Current Yr: 1 Yr Ago: 2 Yrs Ago: + Acid-test ratio Choose Numerator: Choose Denominator: 1 < Required 1B Required 2B > =Acid-Test Ratio Acid-test ratio = 0 10 1 NO 0 to 1 = 0 to 1 or worsen over the three year period? Complete this question by entering your answers in the tabs below. Required 1A Required 1B Required 2A Required 28 Did the acid-test ratio improve or worsen over the three year period? Acid-test ratio