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Required information Use the following information for the Exercises below. (Algo) [The following Information applies to the questions displayed below. ] Simon Company's year-end balance sheets follow. at December 31 Current Year 1 Year Ago 2 Years Ago Assets Cash $ 25,997 $ 30,692 $ 32,297 Accounts receivable, net 76,854 52,115 43,062 Merchandise inventory 93,787 72,330 44,949 Prepaid expenses 8,456 8,216 3,624 Plant assets, net 235,530 216,445 199,063 Total assets $ 440,624 $ 379,848 $ 323,000 Liabilities and Equity Accounts payable 5 106,424 $ 63,552 $ 42,636 Long-term notes payable 82,837 89,936 72,097 Common stock, $10 par Value 163,500 163,500 162,500 Retained earnings 87,863 62,810 45,767 Total liabilities and equity $ 440,624 $ 379,848 $ 323,000 Exercise 13-? (Algo) Analyzing liquidity LO P3 (1-a) Compute the current ratio for each of the three years. (14)) Did the current ratio improve or worsen over the three-year period? (2-a) Compute the acidtest ratio for each of the three years. (24)) Did the acid-test ratio improve or worsen over the three-year period? Complete this question by entering your answers in the tabs below. Compute the current ratio for each of the three years. lH_ _l-m _l-m _l-m Required information Use the following information for the Exercises below. (Algo) [T he following information applies to the questions displayed below. ] Simon Company's yearend balance sheets follow. At December 31 Current Year 1 Year Ago 2 Years Ago Assets Cash 5 25,997 $ 30,692 $ 32,297 Accounts receivable, net 76,854 52,115 43,062 Merchandise inventory 93,787 72,380 44,949 Prepaid expenses 8,456 8,216 3,624 Plant assets, net 235,530 216,445 199,063 Total assets $ 440,624 $ 379,843 $ 323,000 Liabilities and Equity Accounts payable 5 106,424 5 63,552 5 42,636 Long-term notes payable 82,837 89,986 72,097 Common stock, $10 par value 163,500 163,500 162,500 Retained earnings 87,863 62,810 45,767 Total liabilities and equity $ 440,624 $ 379,848 $ 323,000 Exercise 13-7 (Algo) Analyzing liquidity LO P3 (1-a) Compute the current ratio for each of the three years. (14)) Did the current ratio improve or worsen over the three-year period? (2-a) Compute the acidtest 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 13 Required 2A Required 2B Did the current ratio improve or worsen over the three-year period?