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. 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 $ 26,544 80,898 100, 717 8,989 246,665 $ 463,813 $ 31,987 57,097 73,231 8,229 229, 295 $ 399,839 $ 32,987 43,982 46,846 3,556 202,529 $ 329,900 $ 118,954 88,941 163,500 92,418 $ 463,813 $ 69,600 92,883 162,500 74,856 $ 399,839 $ 43,111 72,179 163,500 51, 110 $ 329,900 1 of 2 (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? Compute the current ratio for each of the three years. is Current Ratio Denominator: Numerator: Current Ratio Current ratio to 1 eBook Current Year: 1 Year Ago: 2 Years Ago: to 1 Hint to 1 Print Did the current ratio improve or worsen over the three-year period? Current ratio Did the acid-test ratio improve or worsen over the three-year period? Acid-test ratio