please answer 1-a 1-b 2-a 2-b
Simon Company's year-end balance sheets follow. Current Yr 1 Yr Ago 2 Yrs Ago 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 $ 31,783 94,936 118,182 10,548 294,233 $ 549,682 $ 38,288 $ 41, 109 68,331 52,662 88,541 56,074 9,653 4,568 269,051 252,687 $ 473,864 $ 407,100 $ 134, 133 $ 80,083 $ 53,200 105,407 162,500 147,642 $ 549,682 110,079 92,668 162,500 162,500 121,202 98,732 $ 473,864 $ 407,100 (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 1B Required 2A Required 2B Compute the current ratio for each of the three years. Current Ratio Choose Denominator: Choose Numerator: Current Ratio Current ratio Current Yr: to 1 ## to 1 1 Yr Ago: 2 Yrs Ago: to 1 Required: A Required 1B Total liabilities and equity $ 549,682 $ 47 (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 1B Required 2A Required 2B Did the current ratio improve or worsen over the three year period? Current ratio References Complete this question by entering your answers in the tabs below. Required 1A Required 1B Required 2A Required 28 Did the acid-test ratio improve or worsen over the three year period? Acid-test ratio