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 $ 36, 712 104, 295 132, 456 11, 705 330, 906 $ 616, 074 $ 42, 913 72, 867 100, 218 10, 930 304, 170 $ 531,098 $. 42,948 58, 999 62,224 4,917 269, 112 $ 438,200 $ 156, 470 118, 138 162,500 178,966 $ 616, 074 $ 91, 551 123, 374 163,500 152, 673 $ 531,098 $ 57, 264 95,874 162,500 122,562 $ 438, 200 Required information (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 Required 1B Required 2A Required 2B Compute the current ratio for each of the three years. Numerator: Current Ratio Denominator: Current Ratio Current ratio to 1 to 1 Current Year: 1 Year Ago: 2 Years Ago: = 11 to 1 Complete this question by entering your answers in the tabs below. Required 1A Required 1B Required 2A Required 2B Compute the acid-test ratio for each of the three years Aciditest ratio Denominator Numerator Short term westments Current Year: 1 Year Ago: 2 Years Ago: Acid-Test Ratio Acid-test ratio 0 to 1 Oto! Oto 1