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 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 $ 36,825 107, 799 132,853 12,215 334,469 $ 624,161 $ 43,907 76,836 99,543 11,525 306,259 $ 538,070 $ 43,956 58,027 62,423 4,691 270,503 $ 439,600 $ 152, 308 116, 169 163,500 192, 184 $ 624,161 $ 88,206 120,043 163,500 166,321 $ 538,070 $ 59, 768 100,066 163,500 116,266 $ 139,600 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. (1-1) 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 18 Required 2A Required 26 Compute the current ratio for each of the three years