Simon Company's year-end balance sheets follow 2018 2017 At December 31 Assets 2016 $ 31,800 $ 35,625 $ 37, 800 89,500 62,500 50,200 112,500 82,500 54,000 10,700 9,375 5,000 278,500 255,000 230, 500 $523,000 $445,000 $377,500 Accounts receivable, net Merchandise inventory Prepaid exponnes Plant assets, net Total assets Liabilities and Equity Accounts payable Long-term notes payable secured by mortgages on plant assets Locmon stock, S10 par value Retained earnings Total liabilities and equity $129,900 $ 75,250 S 51, 250 98,500 101,500 83,500 163,500 163,500 163,500 131,100 104,750 79,250 $523,000 $445,000 $377,500 1. Compute the current ratio for the years ended December 31, 2018, 2017 and 2016 2 Compute the acid-test ratio for the years ended December 31, 2018, 2017, and 2016. Complete this question by entering your answers in the tabs below. Required i Required 2 Compute the current ratio for the years ended December 31, 2018, 2017, and 2016. Current Ratio Choose Denominator Current liabilities Choose Numerator Current assets 2018 2017: 2016: Current Ratio Current ratio U to 1 0 to 1 Oto 1