Chapter 13 Homework Saved Simon Company's year-end balance sheets follow. 2018 2017 2016 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 $ 34,100 $ 39,461 $ 40,283 95,866 67,661 54,258 126,746 92,174 60,138 11,311 10,358 4,567 309,935 288,586 255,954 $ 577,958 $ 498,240 $ 415,200 eBook Hint $ 142,472 $ 83,361 $ 55,354 105,396 114,595 93,594 162,500 162,500 162,500 167,590 137,784 103,752 $ 577,958 $ 498,240 $ 415,200 Print References 1. Compute the current ratio for the years ended December 31, 2018, 2017, and 2016. 2. Compute the acid-test ratio for the years ended December 31, 2018, 2017, and 2016. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the current ratio for the years ended December 31, 2018, 2017, and 2016. Current Ratio / Choose Denominator: Choose Numerator: = Current Ratio Current ratio to 1 2018: 2017: 2016: to 1 to 1 Required 1 Required 2 Compute the acid-test ratio for the years ended December 31, 2018, 2017, and 2016. Acid-Test Ratio Choose Numerator: 1 Choose Denominator: = Acid-Test Ratio Acid-test ratio 2018: 2017: 2016: to 1