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 Accounts payable Long-term notes payable Common stock, $10 par value Retained earnings Total liabilities and equity Current Year 1 Year Ago 2 Years Ago $ 35,660 100,253 128,648 11,828 328,016 $ 604,405 $ 147,487 112,492 162,500. 181,926 $ 42,100 71,487 $ 42,560 97,356 11,161 298,935 $ 521,039 $ 85,414 116,244 162,500 156,881 $ 604,405 $ 521,039 For both the current year and one year ago, compute the following ratios: Exercise 17-8 (Algo) Analyzing and interpreting liquidity LO P3 57,882 61,046 4,729 263,683 $ 429,900 $ 57,314 92,158. 163,500 116,928 $ 429,900 The company's income statements for the current year and one year ago follow. Assume that all sales are on credit: For Year Ended December 31 Sales Cost of goods sold Other operating expenses Interest expense Income tax expense Current Year 1 Year Ago $ 785,727 $ 620,036 $ 479,293 $ 403,023 243,575 13,357 10,214 156,869 14,261 9,301