3 Part 2 of 6 Required Information [The following Information applies to the questions displayed below.] Simon Company's year-end balance sheets follow. 0.42 points Skipped At December 31 Assets Cash Accounts receivable, net Current Year 1 Year Ago 2 Years Ago Merchandise inventory Prepaid expenses Plant assets, net eBook Total assets $ 431,381 Liabilities and Equity Accounts payable $ 107,414 Long-term notes payable Hint Common stock, $10 par value Retained earnings 79,478 163,500 80,989 Total liabilities and equity $ 431,381 $ 371,880 $ 25,451 73,028 90,892 8,032 233,978 $ 29,453 51,022 70,862 7,731 212,812 $ 371,880 $ 62,848 88,098 163,500 57,434 $ 31,294 41,316 44,446 3,409 189,435 $ 309,900 $ 41,316 67,803 163,500 37,281 $ 309,900 Print For both the current year and one year ago, compute the following ratios: References (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 28 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 = to 1 = to 1 to 1 Complete this question by entering your answers in the tabs below. Required 1A Required 1B Required 2A Required 2B Did the current ratio improve or worsen over the three-year period? Current ratio 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 + 1 = Acid-test ratio + I = to 1 + 1 = to 1 + = to 1 Complete this question by entering your answers in the tabs below. Required 1A Required 18 Required 2A Required 2B Did the acid-test ratio improve or worsen over the three-year period? Acid-test ratio