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ework Saved Simon Company's year-end balance sheets follow. At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets

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ework Saved Simon Company's year-end balance sheets follow. 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 Current Yr 1 Yr Ago 2 Yrs Ago $ 26,729 $ 30,019 $ 31,270 75,951 53,069 42,969 93,583 70,127 46,682 8,523 8,041 3,510 239,369 221,636 197,869 $ 444, 155 $ 382,892 $ 322,300 $ 113, 912 $ 63, 415 $ 41,693 82,666 162,500 85,077 $ 444, 155 88,065 73,365 162,500 162,500 68,912 44,742 $ 382,892 $ 322,300 (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. Required 1A Requinly 1B Required 2A Required 2B Compute the current ratio for each of the three years. Current Ratio Choose Numerator: Choose Denominator: Il Il 11 Current Yr: 1 Yr Ago: 2 Yrs Ago: Current Ratio Current ratio to 1 to 1 to 1 11 = Required 1 Required 1B > Complete this question by entering your answers in the tabs below. Required 1A Required 1B Required 2A Required 28 Compute the acid-test ratio for each of the three years. 25 Acid-test ratio Choose Numerator: / Choose Denominator: Current Yr: 1 Yr Ago: 2 Yrs Ago + - + - Acid-Test Ratio Acid-test ratio to 1 to 1 - + to 1 (Required 18 Required 28 >

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