Exercise 13-7 Liquidity analysis LO P3 Simon Company's year-end balance sheets follow. 2017 2016 2015 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 $ 29,274 $ 32,541 $ 33,578 82,349 59,882 46,128 103,538 77,578 48,649 9,427 9,070 3,731 261,849 240, 271 210,514 $ 486,437 $ 419,342 $ 342,600 es $ 123,545 $ 72,995 $ 44,319 90,536 95,484 73,443 162,500 162,500 162,500 109,856 88,363 62,338 $ 486,437 $ 419,342 $ 342,600 1. Compute the current ratio for the year ended 2017, 2016, and 2015. 2. Compute the acid-test ratio for the year ended 2017, 2016, and 2015. 1. Compute the current ratio for the year ended 2017, 2016, and 2015. 2. Compute the acid-test ratio for the year ended 2017, 2016, and 2015. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the current ratio for the years ended December 31, 2017, 2016, and 2015. ces Choose Numerator: Current Ratio 1 Choose Denominator: 1 / 2017: 2016: 2015: Current Ratio Current ratio to 1 to 1 to 1 = = 1 Required 1 Required 2 > Check my work 1. Compute the current ratio for the year ended 2017, 2016, and 2015. 2. Compute the acid-test ratio for the year ended 2017, 2016, and 2015. Complete this question by entering your answers in the tabs below. Required: Requiredie Compute the acid-test ratio for the years ended December 31, 2017, 2016, and 2015. Acid-Test Ratio Choose Numerator: 1 Choose Denominator: 2017: 2016: 2015: = Acid-Test Ratio Acid-test ratio to 1 to 1 to 1 + +