$ 29, 482 84,593 106,359 9,399 269,859 $ 499,692 $ 34,806 $ 36, 256 60, 308 48,820 78,098 50,974 8,775 3,989 248, 782 222,561 $ 430,769 $ 362,600 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 $ 121,935 $ 73,528 $ 47,863 93,003 162,500 122,254 $ 499,692 99,077 77,731 162,500 162,500 95,664 74,506 $ 430,769 $ 362,600 (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 Ratio I Choose Denominator: / Current liabilities Choose Numerator: Current assets Current Ratio = Current ratio o to 1 Current Yr: / 1 0 to 1 1 Yr Ago: 2 Yrs Ago: / 0 to 1 $ 29,482 84,593 106, 359 9,399 269,859 $ 499,692 $ 34,806 $ 36, 256 60, 308 48,820 78,098 50,974 8,775 3,989 248, 782 222,561 $ 430,769 $ 362,600 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 $ 121,935 $ 73,528 $ 47,863 93,003 162,500 122,254 $ 499,692 99,077 77,731 162,500 162,500 95,664 74,506 $ 430,769 $ 362,600 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. Acid-test ratio Acid-Test Ratio Choose Numerator: Short-term investments 1 Choose Denominator: / Current liabilities Cash Current receivables = Acid-test ratio + + = Current Yr: 1 Yr Ago: 2 Yrs Ago: 1 / 1 0 to 1 0 to 1 + + = 0 to 1