Current Yr 1 Yr Ago 2 Yrs Ago 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 mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity $ 35,644 99, 257 127,344 11, 479 318,574 $ 592, 298 $ 40,848 $ 42, 125 72,914 55,599 95,406 62,252 10, 615 4,728 290, 819 265,096 $ 510, 602 $ 429,800 $ 144,533 $ 84,566 $ 56,734 112, 466 162,500 172, 799 $ 592, 298 116, 264 96, 886 162,500 162,500 147, 272 113, 680 $ 510, 602 $ 429,800 (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? Required 1A Required 1B Required 2A Required 2B Compute the current ratio for each of the three years. Current Ratio Choose Denominator: Choose Numerator: - Current Yr: 1 Yr Ago: 2 Yrs Ago: Current Ratio Current ratio to 1 to 1 to 1 Required 1B > Required 1A Required 1B Required 2A Required 2B Did the current ratio improve or worsen over the three year period? Current ratio Required 1A Required 1B Required 2A Required 2B Compute the acid-test ratio for each of the three years. Acid-testirati Choose Numerator: Choose Denominator: Acid-Test Ratio Acid-test ratio Current Yr 11 to 1 1 Yr Ago: 2 Yrs Ago: to 1 Required 1B Required 2B > Required 1A Required 1B Required 2A Required 2B Did the acid-test ratio improve or worsen over the three year period? Acid-test ratio Required 2A