Chapter 13 HW Saved Simon Company's year-end balance sheets follow. 2 2018 2017 2016 2.09 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 $ 31,800 $ 35,625 $ 37,800 89,500 62,500 50,200 112,500 82,500 54,000 10,700 9,375 5,000 278,500 255,000 230,500 $523,000 $445,000 $377,500 $129,900 $ 75,250 $ 51,250 eBook 98,500 101,500 83,500 163,500 163,500 163,500 131, 100 104,750 79,250 $523,000 $445,000 $377,500 Print o 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. References 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 1 Choose Denominator: 1 Current liabilities = Choose Numerator: Current assets 2018: 2017: 2016: Current Ratio Current ratio O to 1 O to 1 1 1 0 to 1 Required 2 >