Chapter 13 Exercise i 4 Simon Company's year-end balance sheets follow. Current Yr 1 Yr Ago 2 Yrs Ago 0.62 points 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 $ 36,523 103,737 131,760 11,762 335, 245 $ 619,027 $ 41,838 $ 43,154 76,951 59,282 98,724 63,773 11,431 4,940 304,700 269, 151 $ 533,644 $ 440,300 eBook $ 151,055 $ 88,382 $ 56,376 Hint 117,541 162,500 187,931 $ 619,027 122,738 95, 360 162,500 162,500 160,024 126,064 $ 533,644 $ 440,300 Print References (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 acid-test ratio for each of the three years. Acid-test ratio Choose Numerator: I Choose Denominator: Current Yr: 1 Yr Ago: 2 Yrs Ago: Acid-Test Ratio Acid-test ratio 0 to 1 0 to 1 0 to 1 + 1 = + =