Current Yr 1 Yr Ago 2 Yrs Ago At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, 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 $ 29,870 84,841 109,937 9,619 272,005 $ 506,272 $ 34,915 $ 35,293 62,935 47,533 79,934 51,646 8,982 4,001 249,675 221,627 $ 436,441 $ 360,100 net $ 127,322 $ 73,021 $ 46,107 96,131 162,500 120,319 $ 506,272 99,378 77,195 162,500 162,500 101,542 74,298 $ 436,441 $ 360,100 (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. Prey 4 of 15 Next > Check 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: . Choose Denominator: + Short-term investments + Current receivables 1 Current liabilities 29,870 + $ 109,937 + $ 84,8411 $ 34,915 + + 35,293 + + Cash $ $ Current Yr: 1 Yr Ago: 2 Yrs Ago: - Acid-Test Ratio Acid-test ratio 127,322 = 1.76 to 1 0 to 1 0 to 1 $