1 10 points Required information Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.) Simon Company's year-end balance sheets follow. eBook Current Year 1 Year Ago 2 Years Ago Hint At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable Long-term notes payable Common stock, $10 par value Retained earnings Total liabilities and equity $ 30,842 88,496 110, 143 10, 131 283,137 $ 522,749 $ 36,052 64,983 83,370 9,464 256,777 $ 450,646 $ 35,013 47,165 50,738 3,970 227,714 $ 364,600 Ask Print $ 131,466 101, 225 162,500 127,558 $ 522,749 $ 73,874 100,539 162,500 113,733 $ 450, 646 $ 49,571 82,188 163,500 69,341 $ 364,600 References Exercise 13-7 (Algo) Analyzing liquidity LO P3 Exercise 13-7 (Algo) Analyzing liquidity LO P3 (1-a) Compute the current ratio for each of the three years. (1-6) 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? 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 Denominator: Current liabilities Numerator: Current assets I II Current Year: 1 Year Ago: 2 Years Ago: Current Ratio Current ratio 0 to 1 0 to 1 0 to 1 11 =