2 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 1 Yr Ago 2 Yes Ago $ 32,035 93,776 114,403 10,316 292,436 $ 542,966 $ 135,199 105,140 162,500 140,127 $ 542,966 $ 37,820 $ 38,998 67,496 50,469 54,840 4,163 237,730 84,862 9,731 268,165 $ 468,074 $ 386,200 $ 79,896 $ 50,978 107,657 162,500 118,021 84,497 162,500 88,225 $ 468,074 $ 386,200 (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. < Prev 2 of 7 Next >