Chec 13 Simon Company's year-end balance sheets follow. Current Yr At December 31 Assets 1 Yr Ago 2 Yrs Ago 1 points Cash $ 26,802 79,265 101,653 8,983 246,833 $ 463,536 $ 32,607 $ 33,626 55,944 44, 396 73,187 46,813 8,476 3,590 229,386 204,575 $ 399,600 $ 333,000 eBook Hint 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 Print $ 116,575 $ 66,182 $ 43,956 References 88,888 162,500 95,573 $ 463,536 90,070 72,857 162,500 162,500 80,848 53,687 $ 399,600 $ 333,000 (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. points (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? eBook Hint Print Complete this question by entering your answers in the tabs below. References Required 1A Required 1B Required 2A Required 2B Compute the current ratio for each of the three years. Choose Numerator: Current Ratio 1 Choose Denominator: / Current liabilities Current Ratio Current assets = Current ratio 0 to 1 Current Yr: 1 Yr Ago: 2 Yrs Ago: 1 = 0 to 1 = 0 to 1