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 Total assets Current Year 1 Year Ago 2 Years Ago $ 28,332 82,115 103,244 $ 34,131 $ 34,850 46,466 52,537 9,403 266,912 59,730 77,366 8,693 242,499 $ 422,419 Plant assets, net $ 490,006 Liabilities and Equity Accounts payable $ 119,571 $ 72,817 Long-term notes payable 93,042 Common stock, $10 par value 162,500 Retained earnings 114,893 Total liabilities and equity $ 490,006 $ 422,419 99,099 163,500 87,003 For both the current year and one year ago, compute the following ratios: 3,872 221,475 $ 359,200 $ 48,363 78,589 163,500 68,748 $ 359,200 (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? 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 11 to 1 Required 1A Required 1B > Complete this questio Required 1A Required 1B Required 2A Required 2B 02:00:48 Compute the acid-test ratio for each of the three years. Current Year: 1 Year Ago: 2 Years Ago: Acid-test ratio Numerator: Denominator: =Aci +Short-term investments = Aci =