Ch Required information [The following information applies to the questions displayed below.] Part 1 of 3 Simon Company's year-end balance sheets follow. At December 31 Current Year 1 Year Ago 2 Years Ago 10 Assets points Cash $ 26, 619 $ 32, 058 $ 32, 739 Accounts receivable, net 75,592 56, 652 43, 216 03:22:12 Merchandise inventory 96, 023 71, 228 45, 551 Prepaid expenses 8, 745 8, 250 3,565 Plant assets, net 248, 753 224, 684 205, 629 Total assets $ 455, 732 $ 392, 872 $ 330, 700 Liabilities and Equity Accounts payable $ 115, 747 $ 67, 059 $ 44, 525 @Book Long-term notes payable 84, 821 91, 264 73, 816 Common stock, $10 par value 163,500 163, 500 162, 500 Retained earnings 91, 664 71, 049 49 , 859 $ 455, 732 $ 392, 872 Hint Total liabilities and equity $ 330, 700 For both the current year and one year ago, compute the following ratios: Print (1-a) Compute the current ratio for each of the three years. References (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 Ratio Numerator: 1 Denominator: Current Ratio Current ratio Current Year: to 1 1 Year Ago: to 1 2 Years Ago: to 1 Required 1A Required 1B Required 2A Required 2B Compute the acid-test ratio for each of the three years. Acid-test ratio Numerator: Denominator: Acid-Test Ratio + Short-term investments Acid-test ratio Current Year: + to 1 1 Year Ago: to 1 2 Years Ago: + + to 1 Required 1A Required 1B Required 2A Required 2B Did the acid-test ratio improve or worsen over the three-year period? Acid-test ratio