Current Yr 1 Yr Ago 2 Yrs Ago At December 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 $ 28, 342 84,634 106,411 9,127 256,217 $ 485,231 32,795 $ 34,158 59,148 48,361 78,160 51,014 8,697 3,795 239,503 218,372 $ 418,303 $ 355,700 $ 119,614 $ 72,197 $ 45,544 89, 399 162,500 113,718 $ 485,231 95,248 77,824 162,500 162,5ee 88, 448 69,832 $ 418,303 $ 355,709 (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? h Complete this question by entering your answers in the tabs below. Required 1A Required 18 Required 2A Required 28 Compute the current ratio for each of the three years. Current Ratio 17 Choose Denominator: Choose Numerator Current Ratio = Current ratio to 1 Current Yr 1 Yr Ago 2 Yrs Ago 101 0 1 Required 10