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 $ 29,931 $ 34,987 $ 35.723 89,433 63,121 48,613 111,321 84, 244 51,768 9,738 9,279 4,174 282,579 259,233 231, 722 $ 523,002 $ 450,864 $ 372,000 $ 128,925 $ 76,196 $ 50,577 98,324 100, 588 83,034 162,500 162,500 162,500 133,253 111,580 75,889 $ 523,602 $ 450,864 $ 372,800 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. Current Ratio Choose Denominator: Choose Numerator: = Current Ratio Current ratio to 1 IS 2017: 2016: 2015: to 1 I . = to 1 Required 2 > Required 1 Required 2 Compute the acid-test ratio for the years ended December 31, 2017, 2016, and 2015. Acid-Test Ratio Choose Numerator: 1 Choose Denominator: = Acid-Test Ratio 2017: 2016: 2015: (Required 1