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 Current Year 1 Year Ago 2 Years Ago $31,800 89,500 $ 35,625 62,500 112,500 10,700 278,500 $ 523,000 98,500 163,500 131,100 Accounts payable $ 129,900 Long-term notes payable Common stock, $10 par value Retained earnings Total liabilities and equity $ 523,000 82,500 9,375 255,000 $ 445,000 $ 75,250 101,500 163,500 104,750 $445,000 For both the current year and one year ago, compute the following ratios $ 37,800 50,200 54,000 5,000 230,500 $ 377,500 $ 51,250 83,500 163,500 79,250 $ 377,500 (1-0) 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 28 Compute the current ratio for each of the three years. Numerator: Current assets Current Year: 1 Year Ago: 2 Years Ago: Current Ratio Denominator: Current liabilities 1 Required 1A Required 1B > Current Ratio Current ratio = 0 to 1 = 0 to 1 = 10 to 1 ces 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 Herchandise 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 255,000 $ 37,800 50,200 54,000 5,000 230,500 Current Year 1 Year Ago 2 Years Ago $ 31,800 89,500 $ 35,625 62,500 112,500 82,500 10,700 278,500 9,375 $ 523,000 $445,000 $75,250 101,500 163,500 104,750 $ 129,900 98,500 163,500 131,100 $ 523,000 $ 445,000 For both the current year and one year ago, compute the following ratios: (1-6) 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. $ 377,500 $51,250 83,500 163,500 79,250 $ 377,500 Required 1A Required 18 Required 2 Required 2B Compute the acid-test ratio for each of the three years. Current Year: 1 Year Ago: 2 Years Ago: Acid-Test Ratio Numerator: +Short-term investments + Denominator: Acid-Test Ratio. 1 => Acid-test ratio = 0 to 1 0 to 1 0 to 1 7 < Required 1B Required 28 >