! 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 $ 24,932 75,947 94.562 8,357 227,403 $ 431,201 $ 30,333 50,480 70,145 7,884 212,883 $ 371,725 $ 31,597 41,716 43,987 3,545 192,055 $ 312,900 $ 106,295 80,255 163,500 81,151 $ 431,201 $ 62,193 85,497 162,500 61.535 $ 371,725 $ 41,303 70,534 162,500 38,563 $ 312,900 For both the current year and one year ago, compute the following ratios: 6 (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 Compute the current ratio for each of the three years, Current Ratio Denominator: Numerator: Current Year: 1 Year Ago: 2 Years Ago: Current Ratio Current ratio to 1 to 1 to 1 11 Recund1