Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable. $ 32,677 93,761 121,459 10,734 295,219 $ 553,850 $ 37,051 68,181 88,330 9,926 273,969 $ 477,457 Long-term notes payable Common stock, $10 par value Retained earnings $ 139,288 103,083 162,500 148,979 $ 79,076 108,717 163,500 126,164 Total liabilities and equity $ 553,850 $ 477,457 $ 39,788 54,112 55,928 4,421 247,651 $ 401,900 $ 51,459 87,932 162,500 100,009 $ 401,900 For both the current year and one year ago, compute the following ratios: (1-0) Compute the current ratio for each of the three years. (1-b) Did the current ratio improve or worsen over the three-year period? (2-0) 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 18 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 = to 1 = to 1 = to 1