Simon Company's year-end balance sheets follow 1 Yr Ago 2 Yrs Ago Current Yr At December 31 $ 38,554 40,976 67,469 92,795 59,355 10,637 282,305 $ 491,760 $409,800 Assets 214 points S 32,983 94,619 121,419 10,622 310,799 Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net 5s,716 4,463 249,290 skipped S 570,442 Total assets Liabilities and Equity Accounts payable Long-ters notes payable secured by mortgages on plant assets Common stock, $10 par value Retained earnings eBook 143,460 $ 3,939 # 53,553 Hint 92,377 162,500 101,370 114,236 162,500 131,085 105,098 162,500 159,38 Pant $ 491,760 409,800 $570,442 Total 1iabilities and equity (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 pear period? Complete this question by entering your answers in the tabs below. Required 28 Required 2A Required 1A Required 18 Compute the current ratio for each of the three years Current Ratio (2-aj Compute the acid-test ratio for each of the three years. points (2-b) Did the acid-test ratio improve or worsen over the three year period? Skipped Complete this question by entering your answers in the tabs below. elock Hint Required 1A Required 18 Required 2A Required 28 Pint Compute the current ratio for each of the three years Current Ration Choose Denominator Choose Numerator Current Ratio Curent ratio Current Yr to 1 Yr Ago: to 1 2 Yrs Age to 1 Required 18 3 of 14