Mixon Company's year-end balance sheets show the following: Cash Accounts receivable, net Merchandise inventory Prepaid expenses. Plant assets, net Total assets Accounts payable..... Long-term notes payable secured by mortgages on plant assets .... Common stock, $10 par value Retained earnings ..... Total liabilities and equity ****** 2006 2005 $ 35,625 $ 30,800 88,500 62,500 111,500 82,500 9,700 9,375 277,500 255,000 $518,000 $445,000 $128,900 $ 75,250 97,500 162,500 129,100 $518,000 2004 $36,800 49,200 53,000 4,000 229,500 $372,500 $ 49,250 102,500 82,500 162,500 162,500 104,750 78,250 $445,000 $372,500 Required: Compare the year-end short-term liquidity position of this company at the end of 2006, 2005, and 2004 by computing the: (a) current ratio and (b) acid-test ratio. Comment on the ratio results. Refer to Mixon Company's balance sheets in Exercise 1-3. Express the balance sheets in common-size percents. Round to the nearest one-tenth of a percent