! Required Information [The following information applies to the questions displayed below.] 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 $ 31,800 89,580 112,500 10,700 278,500 $ 523, see $ 35,625 62,5ee 82,5ee 9,375 255, eee $ 445, eee $ 37,800 50,200 54,000 5,990 239,580 $ 377,580 $ 129,900 98,500 163,5ee 131, 100 $ 523,eee $ 75,25e 101,5ee 163,500 184,750 $ 445,000 $ 51,250 83,500 163, see 79,25e $ 377,500 (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? (2-0) 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 Numerator: 1 Denominator: = 1 = Current Ratio Current ratio to 1 Current Year: 1 = 1 1 Year Ago: 2 Years Ago: to 1 to 1 =