Please show work for 1-a through 2-b. Thanks!
Simon Company's year-end balance sheets follow. Current Year 1 Year Ago 2 Years 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 Common stock, $10 par value Retained earnings Total liabilities and equity $ 33,691 96,697 119,195 10,744 294,067 $ 554,394 $ 37,852 66,241 86,648 10,137 277,048 $ 477,926 $ 40,234 53,645 57.709 4,605 250,207 $ 406,400 $ 142,185 105,268 162,500 144,441 $ 554,394 $ 81,577 111,022 162,500 122.827 $ 477,926 $ 53,108 92,509 162,500 98,283 $ 406,400 References Section Break Use the following information for the Exercises below. (Algo) Exercise 13-7 (Algo) Analyzing liquidity LO P3 (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 Denominator: Numerator: Current Ratio Current ratio O to 1 ## Current Year: 1 Year Ago: 2 Years Ago: O to 1 0 to 1 Required Required 1B) Complete this question by entering your answers in the tabs below. Required 1A Required 1B Required 2A Required 2B Required 2A Did the current ratio improve or worsent over the three-year period? Current ratio Exercise 13-7 (Algo) Analyzing liquidity LO P3 11-a) Compute the current ratio for each of the three years 11-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 26 Required 1A Required 18 Required 2A Compute the acid-test ratio for each of the three years. Acid-test ratio Denominator Numerator: Short-term investments + Current Year: 1 Year Ago 2 Years Ago - Acid-Tost Rather Acid-bostrano 011 Otot Oto 1 . + + Exercise 13-7 (Algo) Analyzing liquidity LO P3 (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 2B Did the acid-test ratio improve or worsen over the three-year period? Acid-test ratio
