Exercise 13-7 Liquidity analysis LO P3 Simon Company's year-end balance sheets follow 9.09 2018 2017 $ 37,800 5e,200 At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses plant assets, net Total assets Liabilities and Equity Accounts payable Long-tere notes payable secured by mortgages on plant assets Con stock, $10 par value Retained earnings Total liabilities and equity $ 31,800 89, Soe 112,500 10,700 275,500 $523,000 $ 35,625 62,500 82,500 9, 375 255,000 $445,000 5,000 230.500 $377,500 $129,900 $ 75,250 $ 51,250 98,500 101,500 33,500 163,500 163,500 163,500 131,100 104.75 79,250 5523,000 $445,000$ 377,500 1. Compute the current ratio for the years ended December 31, 2018, 2017 and 2016. 2. Compute the acid-test ratio for the years ended December 31, 2018 2017 and 2016 Complete this question by entering your answers in the tabs below. Required Required 2 Compute the add-test ratio for the years ended December 31, 2018, 2017 and 2016 Choose Numerator: Acid-Test Ratio 2018: 012 Current assets 1 Choose Denominator: - Acid-Test Ratio Acid-test ratio 0 to 1 0 to 1