1 Yr Ago 2 Yrs Ago Simon Company's year-end balance sheets follow, 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 secured by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity Current Yr $ 28,860 79,544 101,043 9,021 261,091 $ 479,559 $ 32, 742 $ 34, 107 57, 299 45,926 77, 246 48,436 8,855 3,715 237, 271 208,916 $ 413, 413 $ 341,100 $ 121,798 $ 68,469 $ 45,025 as 90,157 162,500 105, 104 $ 479,559 93,183 75,383 162,500 162,500 89,261 58, 192 $ 413, 413 $ 341, 100 (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? Required 1A Required 18 Required 2A Required 2B Compute the current ratio for each of the three years. Current Ratio Choose Numerator: Current assets Choose Denominator: 7 Current liabilities Current Ratio Current ratio to 1 Current Yr 1 Yr Ago: 2 Yrs Ago: $ 121,798 68 469 = 45,025 0.00 to 1 0.00 to 1 $ Required 1B > Complete this question by entering your answers in the tabs below. Required LA Required 1B Required 2A Required 2B Compute the acid-test ratio for each of the three years, Acid-test ratio Choose Numerator: 1 Choose Denominator: ++ Current Yr: 1 Yr Ago: 2 Yrs Ago: Acid-Test Ratio Acid-test ratio Oto 1 Oto 1 Oto 1 + +