! 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 Total liabilities and equity Current Year $ 31,713 91,915 116,699 9,712 276,936 $ 526,975 1 Year Ago $ 37,070 63,600 82,363 9,540 261,716 $ 454,289 2 Years Ago $ 129,905 $ 52,011 99,071 162,500 135,499 $ 78,310 103,442 162,500 110,037 87,933 162,500 83,856 $ 526,975 $ 454,289 $ 386,300 For both the current year and one year ago, compute the following ratios: (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? $ 38,626 52,011 55,403 4,207 236,053 $ 386,300

Required information The following information applies to the questions displayed below] Simon Company's year-end balance sheets follow For both the current year and one year ago, compute the following ratios: (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-yeat period? Compute the acld-test ratio for each of the three years