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 Current Year 1 Year Ago 2 Years Ago $ 35,548 $ 43,248 75,684 $ 41,178 104,079 129,538 11,564 334,068 $ 614,797 $ 151,554 Long-term notes payable Common stock, $10 par value Retained earnings Total liabilities and equity 117,893 162,500 96,088 10,796 304,181 $ 529,997 $ 90,465 119,461 162,500 182,850 157,571 $ 614,797 $ 529,997 For both the current year and one year ago, compute the following ratios: 56,602 60,281 4,622 266,117 $ 428,800 $ 57,734 96,660 162,500 111,906 $ 428,800 (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 Compute the current ratio for each of the three years. Current Year: 1 Year Ago: 2 Years Ago: Numerator: Current Ratio Denominator: = Current Ratio = Current ratio = to 1 to 1 = to 1 Required 1A Required 1B >