Simon Company's year-end balance sheets follow. 2017 2016 2015 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 secured by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity $ 31,767 $ 36,761 $ 38,676 92,992 64,333 51,568 113,446 86,728 54,376 10,128 9,747 4,340 290,093 266,591 237,840 $ 538,426 $ 464,160 $ 386,800 $ 134,068 $ 76,874 $ 51,568 98,187 108,892 85,483 162,500 162,500 162,500 143,671 115,894 87,249 $ 538,426 $ 464,160 $ 386,800 1. Compute the current ratio for the year ended 2017, 2016, and 2015. 2. Compute the acid-test ratio for the year ended 2017, 2016, and 2015. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the current ratio for the years ended December 31, 2017, 2016, and 2015. Current Ratio 1 Choose Denominator: Choose Numerator: = Current Ratio 1 Current ratio 2017: / = to 1 2016: 1 to 1 2015: / = to 1 Exercise 17-7 Liquidity analysis LO P3 Simon Company's year-end balance sheets follow. 2017 2016 2015 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 secured by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity $ 31,767 $ 36,761 $ 38,676 92,992 64,333 51,568 113, 446 86,728 54,376 10,128 9,747 4,340 290,093 266,591 237,840 $ 538,426 $ 464,160 $ 386,800 $ 134,068 $ 76,874 $ 51,568 98,187 108,892 85,483 162,500 162,500 162,500 143, 671 115,894 87,249 $ 538,426 $ 464,160 $ 386,800 1. Compute the current ratio for the year ended 2017, 2016, and 2015. 2. Compute the acid-test ratio for the year ended 2017, 2016, and 2015. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the acid-test ratio for the years ended December 31, 2017, 2016, and 2015. Acid-Test Ratio Choose Numerator: 1 Choose Denominator: = Acid-Test Ratio + Acid-test ratio to 1 + + 2017: 2016: 2015: + + 1 1 1 = to 1 to 1