Ces Required information [The following information applies to the questions displayed below.] Simon Company's year-end balance sheets follow. At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Current Year 1 Year Ago 2 Years Ago $ 31,800 89,500 112,500 10,700 278,500 $ 35,625 62,500 $ 37,800 50,200 54,000 82,500 9,375 255,000 $ 445,000 5,000 230,500 $ 377,500 $ 51,250 83,500 163,500 $ 523,000 Accounts payable $ 129,900. Long-term notes payable Common stock, $10 par value 98,500 163,500 $ 75,250 101,500 163,500 Retained earnings 131,100 104,750 79,250 Total liabilities and equity $ 523,000 $445,000 $377,500 For both the current year and one year ago, compute the following ratios: (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. 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 Year: 1 Year Ago: 2 Years Ago: Numerator: Current Ratio Denominator: Current Ratio Current ratio to 1 1 to 1 to 1 Required 18 > nces Complete this question by entering your answers in the tabs below. Required 1A Required 18 Required 2A Required 25 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 18 Required 2A Required 28 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: < Required 18 Required 2B > Acid-Test Ratio Acid-test ratio BO to 1 B to 1 to 1 Required 1A Required 1B Required 2A Required 28 Did the acid-test ratio improve or worsen over the three-year period? Acid-test ratio