Exercise 13-7 (Algo) Analyzing liquidity LO P3 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. Compute the current ratio for each of the three years. Complete this question by entering your answers in the tabs below. Compute the acid-test ratio for each of the three years. Required information Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.] Simon Company's year-end balance sheets follow. For both the current year and one year ago, compute the following ratios: Exercise 13-7 (Algo) Analyzing liquidity LO P3