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 by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity $ 29,786 84,637 104,287 9,122 267,124 $ 494,956 $ 33,452 $ 34,511 60,333 45,095 78,937 48,511 8,871 3,873 245,093 216,610 $426,686 $ 348,600 $ 123,244 $ 70,668 $ 46,015 93,982 162,500 115,230 $ 494,956 96,175 76,270 162,500 162,500 63,815 $426,686 $ 348,600 (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. Required 1A Required 1B Required 2A Required 2B Compute the current ratio for each of the three years. Current Ratio I Choose Denominator: Choose Numerator: = = Current Yr: 1 Yr Ago: 2 Yrs Ago: Current Ratio Current rat Current ratio 0 to 1 0 to 1 0 to 1 Required 10 > 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: 1 Choose Denominator: + + + + Acid-Test Ratio Acid-test ratio 0 to 1 0 to 1 0 to 1 Current Yr: 1 Yr Ago: 2 Yrs Ago: + + + + =