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 24,733 $ 28,911 $ 30,118 71,684 52,143 41,375 91,969 69,585 43,637 8,371 7,512 3,380 231,005 210, 609 188,790 $ 427,762 $ 368, 760 $ 307,300 $ 108,643 $ 61,074 $ 40,158 81,223 83,119 67,913 162,500 162,500 162,500 75,396 62,067 36,729 $ 427,762 $ 368,760 $ 307, 300 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. I. 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: Current liabilities = Choose Numerator: Current assets 2017:/ 2016: 2015: Current Ratio Current ratio 0 to 1 0 to 1 0 to 1 = Complete this question by entering your answers in the tabs below. 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 Acid-test ratio 2017: 2016: 2015: