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 Current Year 1 Year Ago 2 Years Ago Assets Cash $ 33,843 $ 39,560 $ 40,392 Accounts receivable, net 99,069 69,922 54,933 Merchandise inventory 124,560 92,397 56,777 Prepaid expenses 10,899 10,384 4.488 plant assets, net 305,244 282,233 251 410 Total assets $ 573,615 $ 494,496 $ 480,000 Liabilities and Equity Accounts payable $ 144,258 $ 83,570 $ 52,779 Long-tern notes payable 106,761 117,146 91,971 onnon stock, $10 par value 163,500 162,500 162,500 Retained earnings 159,096 131280 100, 250 Total liabilities and equity $ 573,615 $ 494,496 $ 400,000 Exercise 13-7 (Algo) Analyzing liquidity LO P3 (1-a) Compute the current ratio for each of the three years. (1-6) 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. (2-6) 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 28 Compute the current ratio for each of the three years. Current Ratio Denominator: 1 Numerator Total liabilities 1 Current Ratio Current ratio to 1 to 1 tot Current Year: 1 Year Ago: 2 Years Ago: Required 10 >