! Required information [The following information applies to the questions displayed below.] Simon 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 Common stock, $10 par value Retained earnings Current Year 1 Year Ago 2 Years Ago $ 28,308 83,721 102,105 9,023 266,440 $ 489,597 $ 124,348 92,044 $ 34,778 59,089 76,521 8,952 242,726 $ 422,066 $ 69,903 99,017 163,500 89,646 163,500 109,705 Total liabilities and equity $ 489,597 $ 422,066 $ 34,820 48,796 51,983 3,829 219,472 $ 358,900 $ 47,375 80,110 162,500 68,915 $ 358,900 (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?