(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? 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 Year: 1 Year Ago: 2 Years Ago: Numerator: Current Ratio Denominator: Current Ratio = Current ratio = 0 to 1 0 to 1 0 to 1 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 Current Year 1 Year Ago 2 Years Ago $ 40,096 73,033 $ 35,703 101,448 123,725 10,934 321,453 $ 593,263 $ 150,677 113,764 163,500 165,322 96,508 10,525 291,272 $ 511,434 $ 84,704 114,101 163,500 149,129 Long-term notes payable Common stock, $10 par value Retained earnings Total liabilities and equity $ 593,263 $ 511,434 For both the current year and one year ago, compute the following ratios: $ 43,472 57,963 61,131 4,878 263,056 $ 430,500 $ 56,826 92,286 163,500 117,888 $ 430,500 (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? Complete this question by entering your answers in the tabs below. Required 1A Required 1B Required 2A Required 2B Compute the acid-test ratio for each of the three years. Current Year: 1 Year Ago: 2 Years Ago: Numerator: + Short-term investments + Acid-test ratio Denominator: = Acid-Test Ratio + Acid-test ratio 0 to 1 = 0 to 1 0 to 1