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 1 Year Ago 2 Years Ago $ 34,289 104,502 130,103 $ 40,000 $42,611 73,756 58,554 92,686 61,119 11,611 318,634 10,846 4,8801 299,131 $599,139 $516,499 272,036 $439,200 $146,202 $87,288 $57,974 109,259 117,607 163,500 163,500 180,178 148,104 97,063 162,500 121,663 $ 599,139 $516,499 $ 439,200 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-e) 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. 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 > Required 1A Required 1B Required 2A Required 2B Did the current ratio improve or worsen over the three-year period? Current ratio < Required 1A Required 2A > Numerator: Current Year: 1 Year Ago: 2 Years Ago: Short-term investments Acid-test ratio Denominator: Acid-Test Ratio Acid-test ratio = to 1 to 1 to 1 Required 1A Required 1B Required 2A Required 2B Did the acid-test ratio improve or worsen over the three-year period? Acid-test ratio