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 Accounts payable Long-term notes payable Common stock, $10 par value Retained earnings Total liabilities and equity Current Year $ 37,204 103,642 127,678 11,748 331,944 $ 612,216 $ 153,966 111,644 162,500 184, 106 1 Year Ago 2 Years Ago $ 43,066 74,627 95,685 10,862 303,532 $ 527,772 $ 89, 193 122, 601 For both the current year and one year ago, compute the following ratios: $ 41,428 57,491 60,028 (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? 4, 838 263, 215 $427,000 162,500 153,478 $ 612,216 $ 527,772 $ 427,000 $ 55,800 96, 254 163,500 111,446