Simon Company's year-end balance sheets follow. At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Current Yr 1 Yr Ago 2 Yrs Ago $ 31,800 $ 35,625 $ 37,800 89,500 62,500 50,200 112,500 82,500 54,000 10,700 278,500 9,375 255,000 5,000 230,500 $ 523,000 $445,000 $377,500 Accounts payable Long-term notes payable secured by mortgages on plant assets Common stock, $10 par value Retained earnings $ 129,900 98,500 Total liabilities and equity $ 75,250 $ 51,250 101,500 83,500 163,500 163,500 163,500 131,100 104,750 79,250 $ 523,000 $445,000 $377,500 (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 year period? Complete this question by entering your answers in the tabs below. Required 1A Required 1B Required 2A Required 2B Compute the current ratio for each of the three years. Current Yr: 1 Yr Ago: 2 Yrs Ago: Choose Numerator: Current Ratio Choose Denominator: Current Ratio = Current ratio = 0 to 1 = 0 to 1 1 = 0 to 1 < Required 1A Required 1B >