Exercise 13-7 Liquidity analysis LO P3 Simon Company's year-end balance sheets follow Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets 3 31,800 35,625 $37,880 89,500 62,580 50,280 112, 500 82,500 54,800 9,375 278,5 255,00023,580 523,000 $445,000 $377,500 10,780 5,000 Liabilities and Equity Accounts payable Long-term notes payable secured by 1299 s75,250 $ 51,250 mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity 98.500 101,500 83,500 163,500 163,500 163,500 131,100 104, 750 79,25 5523,000 $445,000 $377,500 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 Required2 Compute the current ratio for the years ended December 31, 2017, 2016, and 2015 Current Ratio l Choose Denominator: Choose Numerator: Current Ratio 2017 2016 2015: Current ratio to 1 to 1 to 1 Required 2> 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 Requ2 Compute the acid-test ratio for the years ended December 31, 2017, 2016, and 2015 Acid-test ratio to 1 2017 2016: 2015: to 1 Required 1