Required information Use the following information for the Exercises below. (Algo) [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 $ 28,257 81,898 $ 34,041 60,162 76,382 8,759 241,957 104,022 9,564 264,968 $ 421,301 For both the current year and one year ago, compute the following ratios: $ 34,417 45,434 47,899 3,900 212,550 $344,200 $ 44,980 74,547 162,500 62,173 $ 344,200 Accounts payable $ 488,709 $ 119,255 Long-term notes payable Common stock, $10 par value: Retained earnings 93,715 162,500 113,239 $ 71,912 97,868 162,500 89,021 Total liabilities and equity $ 488,709 $ 421,301 Exercise 13-7 (Algo) Analyzing liquidity LO P3 (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? Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1A Required 18 Required 2A Required 2B Compute the current ratio for each of the three years. Current Year: 1 Year Ago: 2 Years Ago: Current Ratio Numerator: Denominator: Total assets Current Ratio Current ratio to 0 1 to 0 1 to 0 1 Answer is not complete. of 5 Complete this question by entering your answers in the tabs below. Required IA Required 18 Required 2A Required 28 Compute the acid-test ratio for each of the three years. Current Year 1 Year Ago: 2 Years Age Numerator Short-term investments Acid-test ratio Denominator Acid-Test Ratio Acid-test ratio N a fo 0 1 to 0