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 $ 28,409 $ 32,543 $ 33,553 83,983 58,112 46,582 100, 417 76,791 48,623 9,423 8,891 3,882 259, 269 238,750 216,760 $ 481,501 $ 415,087 $ 349,400 $ 123,491 $ 68,747 $ 47,043 89,617 96,425 77,217 162,500 162,500 162,500 105,893 87,415 62,640 $ 481,501 $ 415,087 $ 349,400 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. Required 1 Required 2 Compute the current ratio for the years ended December 31, 2017, 2016, and 2015. Current Ratio Choose Numerator: | Choose Denominator: Current Ratio - II Current ratio 2017: / = 2016: 7 = oto 1 0 to 1 0 to 1 2015: 7 Required 1 Required 2 Compute the acid-test ratio for the years ended December 31, 2017, 2016, and 2015. Acid-Test Ratio Choose Numerator: | Choose Denominator: = Acid-Test Ratio + + / Acid-test ratio 2017: + + 0 to 1 2016: + + - 0 to 1 0 to 1 2015: + + 1 = Required 1 Required 2 > Common-size and trend percents for Rustynail Company's sales, cost of goods sold, and expenses follow. Sales Cost of goods sold Operating expenses Common-Size Percents 2017 2016 2015 100.0% 100.0% 100.0% 63.3 61.1 57.2 14.3 13.8 14.1 Trend Percents 2017 2016 2015 104.48 103.2% 100.0% 115.5 110.2 100.0 105.9 101.0 100.0 Determine the net income for the following years. (Enter all amounts as positive values.) 2017 2016 2015 Sales $ 100,000 Cost of Goods Sold 57,200 Operating Expenses 14,100 Net Income $ 28,700 Did the net income increase, decrease, or remain unchanged in this three-year period? O Net income decreased O Net income increased O Remained unchanged