mon Company's year-end balance sheets follow. 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 Current Yr 1 Yr Ago 2 Yrs Ago $ 26,376 $ 32,404 $ 32,443 78,006 53,954 44,582 97,097 71,297 47,960 8,754 8,424 3,752 245,942 227,175 205,663 $ 456,175 $ 393,254 $ 334,400 $ 112,452 $ 67,789 $ 42,817 85,761 91,353 72,424 162,500 162,500 162,500 95, 462 71,612 56,659 $ 456,175 $393, 254 $ 334,400 (1-a) Compute the current ratio for each of the three years. (1-b) Did the current ratio improve or worsen over the three year period? (2-a) Compute the acid-test ratio for each of the three years. (2-6) Did the acid-test ratio improve or worsen over the three year period? Complete this question by entering your answers in the tabs below. Required 1A Required 1B Required 2A Required 2B Compute the current ratio for each of the three years. Current Ratio 1 Choose Denominator: Choose Numerator: Current Ratio Current ratio Current Yr: to 1 1 Yr Ago: = to 1 $ 456,175 $ 393,254 $ 334,480 $ 112, 452 $ 67,789 $ 42,817 assets, 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 85,761 162,500 95, 462 $ 456,175 91,353 72,424 162,500 162,500 71,612 56,659 $ 393,254 $ 334,400 (1-a) Compute the current ratio for each of the three years. (1-1) Did the current ratio improve or worsen over the three year period? (2-a) Compute the acid-test ratio for each of the three years. (2-b) Did the acid-test ratio improve or worsen over the three year period? Complete this question by entering your answers in the tabs below. Required 1A Required 18 Required 2A Required 2B Compute the current ratio for each of the three years. Current Ratio Choose Numerator / Choose Denominator: 1 Current Ratio Current ratio 1 to 1 Current Yr: 1 Yr Ago: 2 Yrs Ago: 1 to 1 to 1 FONIA Required 1B > 245,942 $ 456,175 221,175 205,663 $ 393,254 $ 334,400 $ 112,452 $ 67,789 $ 42,817 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 85,761 162,500 95, 462 $ 456,175 91,353 72,424 162,500 162,500 71,612 56,659 $ 393, 254 $ 334,400 (1-a) Compute the current ratio for each of the three years. (1-b) Did the current ratio improve or worsen over the three year period? (2-a) Compute the acid-test ratio for each of the three years. (2-b) Did the acid-test ratio improve or worsen over the three year period? Complete this question by entering your answers in the tabs below. Required 1A Required 19 Required 2A Required 2B Did the current ratio improve or worsen over the three year period? nces Current ratio (Required 1A Required 2A > Long-ter notes paydo de secured by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity 85,761 162,500 95, 462 $ 456,175 91, 353 72,424 162,500 162,500 71,612 56,659 $ 393, 254 $ 334,400 (1-a) Compute the current ratio for each of the three years. (1-b) Did the current ratio improve or worsen over the three year period? (2-a) Compute the acid-test ratio for each of the three years. (2-b) Did the acid-test ratio improve or worsen over the three year period? Complete this question by entering your answers in the tabs below. Required 1A Required 18 Required 2A Required 28 Compute the acid-test ratio for each of the three years. Acid-test ratio Choose Numerator: Choose Denominator: + Current Yr: 1 Yr Ago: 2 Yrs Ago: Acid-Tost Ratio Acid-test ratio to 1 to 1 to 1 Required 10 Required 28 > Saved vork 245,942 $ 456,175 221,175 205,603 $ 393, 254 $ 334,400 $ 112,452 $ 67,789 $ 42,817 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 85,761 162,500 95, 462 $ 456,175 91,353 72,424 162,500 162,500 71,612 56,659 $ 393,254 $ 334,400 (1-a) Compute the current ratio for each of the three years. (1-1) Did the current ratio improve or worsen over the three year period? (2-a) Compute the acid-test ratio for each of the three years. (2-b) Did the acid-test ratio improve or worsen over the three year period? Complete this question by entering your answers in the tabs below. Required 1A Required 18 Required 2A Required 2 Did the acid-test ratio improve or worsen over the three year period? Acid-test ratio