ces Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.] Simon Company's year-end balance sheets follow. At December 31 Assets Cash Current Year 1 Year Ago 2 Years Ago. $ 33,190 Accounts receivable, net $ 38,035) 65,896 Merchandise inventory Prepaid expenses Plant assets, net- Total assets Liabilities and Equity Accounts payable Long-term notes payable Common stock, $10 par value Retained earnings Total liabilities and equity 94,308 118,575 10,688 294,749 85,318 10,084 276,107 $ 551,510 $ 475,440 $ 134,579 104,721 163,500 148,710 $ 81,153 108,258 163,500 122,529 $ 551,510 $ 475,440 For both the current year and one year ago, compute the following ratios: Exercise 13-7 (Algo) Analyzing liquidity LO P3 (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 18 Required 2A Required 28 Compute the current ratio for each of the three years, $ 38,439 52,821 56,823 4,402 243,715 $ 396,200 $ 52,298 85,809 163,500 94,593 $ 396,200 Numerator: Current Year: 1 Year Ago: 2 Years Ago: Current Ratio Denominator N Current Ratio " Current ratio MO to 1 to 1 to 1 Required 18 >