At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Current Yr $27,581 79,937 1 Yr Ago 2 Yrs Ago $ 32,878 $ 32,259 102,496 8,794 244,032 54,184 45,207 72,339 46,271 8,295 3,584 231,304 205,179 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 $ 462,848 $ 399,000 $ 332,500 $ 114,095 $ 69,454 $ 44,329 88,754 162,500 93,605 162,500 73,441 72,013 162,500 53,658 97,491 $462,840 $ 399,000 $ 332,500 (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 Yr: 1 Yr Ago: 2 Yrs Ago: Current Ratio Choose Numerator: Choose Denominator: Current Ratio = Current ratio to 1 to 1 to 1 Required 1A Required 1B >