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 $ 29,901 85,811 104,687 9,629 266,824 91,540 $ 35,294 59,965 80,824 9,175 243,063 $ 496,852 $ 428,321 Accounts payable $ 122,479 Long-term notes payable Common stock, $10 par value Retained earnings Total liabilities and equity $ 71,662 100,484 163,500 92,675 163,500 119,333 $ 496,852 $ 428,321 For both the current year and one year ago, compute the following ratios: $ 36,036 46,182 50,685 3,887 216,610 $ 353,400 $ 47,582 76,539 163,500 65,779 $ 353,400 (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 Compute the current ratio for each of the three years. Numerator: Current Year: 1 Year Ago: 2 Years Ago: Current Ratio Denominator: Current Ratio = Current ratio = to 1 = to 1 = to 1