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plzhelp me with this qn thanks in advance Simon Company's year-end balance sheets follow. At December 31 Assets Current Yr 1 Yr Ago 2 Yrs

image text in transcribedplzhelp me with this qn thanks in advance

Simon Company's year-end balance sheets follow. At December 31 Assets Current Yr 1 Yr Ago 2 Yrs Ago Cash $ 29,242 84,751 106,558 9, 142 251,491 $ 481, 184 $ 33,517 $ 33,887 57,493 44,735 78,275 48,605 8,798 3,728 236,731 207,945 $ 414,814 $ 338,900 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 $ 118,617 $ 69,403 $ 44,735 91,367 162,500 108,700 $ 481, 184 96, 361 75,646 162,500 162,500 86,550 56,019 $ 414,814 $ 338,900 (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

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