Simon Company's year-end balance sheets follow. Current Ye 1 Ye Ago 2 Yrs Ago 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 $ 24,804 76,336 94, 114 8,317 229,835 $ 433,406 $ 29, 292$ 32,070 52,308 42,344 69,121 43,319 7,768 3,494 215, 137 193,273 $ 373,626 5 314,500 $ 106,839 $ 65,037 $ 42,344 81,480 162,500 82,582 $ 433,406 85,075 71,590 162,500 162,500 61,014 38,066 $ 373,626 $ 314,500 (1-a) Compute the current ratio for each of the three years. (1-1) 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 28 Compute the current ratio for each of the three years. (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 15 Required 2A Required 2B Compute the current ratio for each of the three years. Current Ratio / Choose Denominator: Choose Numerator: Current Ratio = Current ratio Current Yr: 1 Yr Ago: 2 Yrs Ago: to 1 to 1 to 1 Required 1A Required 1B > Complete this question by entering your answers in the tabs below. Required 1A Required 1B Required 2A Required 2B Did the current ratio improve or worsen over the three year period? Current ratio Required 1A Required 18 Required 2A Required 28 Compute the acid-test ratio for each of the three years. Acid-test ratio Choose Numerator: Choose Denominator: + Current Yr 1 Yr Ago: 2 Yrs Ago: Acid-Test Ratio Acid-test ratio to 1 to 1 to 1 - Required 1A Required 1B Required 2A Required 2B Did the acid-test ratio improve or worsen over the three year period? Acid-test ratio