Required information [The following information applies to the questions displayed below.] Simon Company's year-end balance sheets follow. Current Year 1 Year Ago 2 Years Ago At December 31 Assets Cash Accounts receivable, net $ 29,226 85,546 $ 33,825 $ 34,882 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 104,394 9,412 261,880 $ 490,458 $ 122,124 91,284 60,377 76,655 8,790 243,162 $ 422,809 $ 72,884 99,191 162,500 88,234 163,500 113,550 $ 490,458 $ 422,809 For both the current year and one year ago, compute the following ratios: 47,449 50,032 3,797 219,740 $ 355,900 $ 46,979 78,654 163,500 66,767 $ 355,900 (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 < Prev 8 of 12 Next > Help Save &