Simon Company's year end balance sheets follow. Current Year 1 Year Aco 2 Years ARO 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 Coinmon stock, $10 par value Retained earnings Total liabilities and equity $78,797 83,461 103,877 9,189 267,692 $493,007 $ 33,320 60,691 79,412 8,925 242,658 $ 425,006 $ 136, 136 48,659 50,806 3,936 221,863 5 361,400 $ 122,759 98,832 163,500 115,916 $493, 007 $.71,826 98,729 162,500 91,951 $ 425,006 $46,751 79,071 163,500 22,078 $361, 480 For both the current year and one year ago, compute the following ratios: Exercise 17-7 (Algo) Analyzing liquidity LO P3 (1-0) Compute the current ratio for each of the three years. (1-1) Did the current ratio improve or worsen over the three year period? (2-6) 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 15 Required 2A Required 20 Required information (2-6) 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 18 Required 2A Required 28 Compute the current ratio for each of the three years. Current Ratio Numerator: Denominator Current Year: 1 Year Ago 2 Years Ago Current Ratio Curront ratio to 1 lo 1 10 1 Route Required 1B > Exercise 17-7 (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? (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 18 Required 2A Required 25 Did the current ratio improve or worsen over the three-year period? Current ratio Exercise 17-7 (Algo) Analyzing liquidity LO P3 (1-6) Compute the current ratio for each of the three years (1-b) Did the current ratio improve or worsen over the three-year period (2-6) Compute the acid-test ratio for each of the three years (2-6) Did the add-test ratio improve or worsen over the three year period? Complete this question by entering your answers in the tabs below. Required A Required 10 equired equired 20 Compute the acid-test ratio for each of the three years Acidetta nominator Numerator Short remonts - A Testo Ad Current Year 1 Year Ago 2 Years Ago Exercise 17-7 (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? (2-0) 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 28 Did the acid-test ratio improve or worsen over the three-year period? Acid lost rabo
