2017 2016 2015 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 $ 37,763 $ 44,142 $ 42,445 110,534 76,484 57,761 134,888 98,036 63,392 12,402 11,587 4,813 338,135 316,063 273,589 $ 633,722 $ 546,312 $ 442,000 $ 160,953 $ 89,557 $ 57,177 23.6 120,331 123, 139 98,659 162,500 162,500 162,500 189,938 171, 116 123,664 $ 633, 722 $ 546,312 $ 442,000 1. Compute the current ratio for the year ended 2017, 2016, and 2015. 2. Compute the acid-test ratio for the year ended 2017, 2016, and 2015. Compute the current ratio for the years ended December 31, 2017, 2016, and 2015. Current Ratio 1 Choose Denominator: Choose Numerator: Current Ratio Current ratio 2017: 1 to 1 2016: 1 = to 1 2015: to 1 Compute the acid-test ratio for the years ended December 31, 2017, 2016, and 2015. Acid-Test Ratio Choose Numerator: / Choose Denominator: + 1 2017: 2016: 2015: = Acid-Test Ratio Acid-test ratio 0 to 1 0 to 1 O to 1 +