At December 31 Current Yr Assets Cash $ 32,152 Accounts receivable, net 96,473 Merchandise inventory 112,684 Prepaid expenses 9,951 Plant assets, net 289,238 Total assets $ 534.425 Liabilities and Equity Accounts payable $ 137,865 Longterm notes payable secured by mortgages on plant assets 182,432 Common stock, $18 par value 162,580 Retained earnings 132,331 Total liabilities and equity $ 534.425 [1-3) Compute the current ratio for each ofthe three years. 1 Yr Ago 5 35,357 53,355 95,232 9,772 254,993 5 459,714 5 75,539 194,995 152,599 114,579 5 459,714 l1-b] Did the current ratio improve or worsen over the three year period? [2-3) Compute the acidtest ratio for each ofthe three years. l2b) Did the acidtest ratio improve or worsen over the three year period? Complete this question by entering your answers in the labs below. Required in Required 13 Required 2A Required 23 Yrs Ago 35,145 59,132 54,518 4,149 231,414 375,499 59,132 39,539 152,599 33,929 375,499 Compute the cun'ent ratio for each of the three years. Current ratio to1 to1 to1 Required 13 ) At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable Longterm notes payable secured by mortgages on plant assets Common stock, $18 par value Retained earnings Total liabilities and equity Current Yr $ 32,152 93,423 112,534 9,951 289,238 $ 534,428 $ 132,355 132,432 152,533 132,331 $ 534,428 I'l-a) Compute the current ratio for each ofthe three years. I'l-b) Did the current ratio improve or worsen over the three year period? [Z-a) Compute the acidtest ratio for each ofthe three years. (24:) Did the acidtest ratio improve or worsen over the three year period? $ 1 Yr Ago 2 35,352 $ 53,355 85,232 9,222 254,993 453,214 $ 325,433 28,539 $ 134,935 152,533 114,523 Complete this question by entering your answers in the labs below. Required 1A Required 1B Required 2A Required 2B Yrs Ago 35,145 53,182 54,518 4,143 231,414 53,182 33,589 152,533 33,329 453,214 $ 325,433 Did the cun'ent ratio improve or worsen over the three year period? _ ( Required 1A Required 2A ) At December 31 Current Yr 1 Yr Ago 2 Yrs Ago Assets Cash at 32,162 $ 35,357 $ 36,146 Accounts receivable, net 98,473 63,355 58,182 Merchandise inventory 112,684- 85,232 54,518 Prepaid expenses 9,951 9,772 4,148 Plant assets, net 289,238 264,993 231,414 Total assets $ 534,428 $ 466,714- $ 376,409 Liabilities and Equity Accounts payable $ 137,865 3. 78,639 $ 58,182 Longterm notes payable secured by mortgages on plant assets 182,432 184,985 88,689 Common stock, $18 par value 162,588 162,588 162,508 Retained earnings 132,331 114,678 83,829 Total liabilities and equityr $ 534.423 $ 450.714 3 37514-09 (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-a) Compute the acidtest ratio for each ofthe three years. l2b) Did the acid-test ratio improve or worsen over the three year period? Complete this qumon by entering your answers in the tabs below. Required 1A Required 18 Required 2A Required 28 Acidtest ratio = to 1 = to 1 = to 1 ( Required 1B Required 2B ) At December 31 Current Yr 1 Yr Ago 2 Yrs Ago Assets Cash 3; 32,162 $ 36,357 $ 36,146 Accounts receivable, net 98,473 63,355 58,182 Merchandise inventory 112,684 85,232 54,518 Prepaid expenses 9,951 9,??2 4,148 Plant assets, net 289,238 264,993 231,414 Total assets $ 534,428 $ 468,?14 $ 326,488 Liabilities and Equity Accounts payable $ 137,865 $ 78,639 $ 58,182 Longterm notes payable secured by mortgages on plant assets 182,432 184,985 38,689 Common stock, $18 par value 162,588 162,588 162,588 Retained earnings 132,331 114,6?8 33,829 Total liabilities and equity $ 534.425 $ 450.714 $ 375,409 I'l-a) Compute the current ratio for each ofthe three years. I'l-b) Did the current ratio improve or worsen over the three year period? [Z-a) Compute the acidtest ratio for each ofthe three years. l2b) Did the acidtest ratio improve or worsen over the three year period? Complete this question by entering your answers in the labs below. Required in Required 1B Required 2A Required 2B Did the acid-test ratio improve or worsen over the three year period? Acid-test ratio ( Required 2A