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 Current Yr 1 Yr Ago 2 Yrs Ago $ 26,860 $ 29,872 $ 31,434 74,068 93,127 54,410 43,196 69,080 45,548 3,528 200,294 8,082 219,580 $ 381,024 $ 324,000 8,566 239,367 $ 441,988 $ 112,256 $ 66,325 $ 41,913 71,604 82,263 162,500 84,969 $ 441,988 89,388 162,500 62,811 162,500 47,983 $ 381,024 $ 324,000 (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