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 Current Year 1 Year Ago 2 Years Ago $ 27,166 $ 32,118 80,343 97,986 9,106 255,242 $ 469,843 $ 32,727 55,571 73,433 8,421 234,885 $ 405,037 $ 67,082 95,022 Liabilities and Equity Accounts payable $ 115,821 Long-term notes payable 85,681 Common stock, $10 par value 162,500 162,500 Retained earnings 105,841 80,433 Total liabilities and equity $ 469,843 $405,037 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-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? 43,256 46,999 3,533 201,794 $ 327,700 $ 42,824 74,594 162,500 47,782 $ 327,700