Saved 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 $ 24,836 70,529 91,420 8,079 230,344 $ 425,208 $ 29,618 51,318 69,170 7,544 200909 $366,559 $ 31,167 40,322 44,704 3,360 192.147 $311,700 $ 103,759 78, 340 162,500 80,609 $ 425, 208 $ 61,329 85,152 162,500 57.578 5 366,559 $ 41,556 69,525 162,500 38,069 $ 311,700 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? ces Exercise 13-7 (Algo) Analyzing liquidity LO P3 1-0) Compute the current ratio for each of the three years 1-b) Did the current ratio improve or worsen over the three-year period 12-a) Compute the acid-test ratio for each of the three years, K2-b) Did the sold test ratio improve or worsen over the three-year period? Complete this question by entering your answers in the tabs below. Required 1A Required 13 Required 2A Required 28 Compute the acid-test ratio for each of the three years Acid-test ratio Numerator + Short term investments + Denominator Cash Current receivables Current + Current Year 1 Year Agos 2 Years Agot . + Acid. Test Ratio Acidental tot oto1 1 +