Simon Company's year-end balance sheets follow. Current Yr 1 Yr Ago 2 Yrs Ago At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net $ 33,936 98,358 124,879 10,714 296,027 $ 563,914 $ 38,502 $ 39,312 67,378 54,534 91,733 56,956 10,209 4,324 278.311 245, 974 $ 486,133 401,100 Total assets Liabilities and Equity Accounts payable $ 141,819 $ 81,335 $ 53,475 Long-term noten payable secured by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity 104,956 162,500 154,639 115,165 87,757 162,500 162,500 127,133 97,368 $ 486,133 $ 401,100 $ 563,914 (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 perlod? 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. Current Ratio Choose Numerator: Current Ratio / Choose Denominator: Current liabilities Current ratio Current assets 0 to 1 Current Yr: mortgages on plant assets Common stock, $10 par value Retained earnings 104,956 115,165 87,757 162,500 162,500 162,500 154,639 127, 133 97,368 $ 563,914 $ 486,133 $ 401,100 Total liabilities and equity (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 18 Required 2A Required 2B Compute the current ratio for each of the three years. Current Ratio Choose Numerator: 1 Choose Denominator: Current Ratio Current assets Current liabilities Current ratio 1 Current Yr: 1 Yr Ago: 2 Yrs Ago: / 0 to 1 0 to 1 0 to 1 11 Heured Required 1B > > 191,819 $ 81,335 $ 53,475 Long-term notes payable secured by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity 104,956 162,500 154,639 115,165 162,500 127,133 87,757 162,500 97,368 $ 563,914 $ 486,133 $ 401,100 (1-a) Compute the current ratio for each of the three years. (1-6) 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 Did the current ratio improve or worsen over the three year period? Current ratio Worsened Total liabilities and equity $ 563,914 $ 486,133 5401,100 (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. 12-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 18 Required 2A Required 28 Compute the acid-test ratio for each of the three years. Acid-test ratio Choose Numerator: Choose Denominator: Aold-Test Ratio Acid-test ratio Current Yr ++++ 0 to 1 0 to 1 O to 1 1 Yr Ago: 2 Yrs Ago: ay wuducu mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity 104,956 162,500 154,639 115,165 162,500 127, 133 87,757 162,500 97,368 $ 563,914 $ 486,133 $ 401,100 (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 2B Did the acid-test ratio improve or worsen over the three year period? Acid-test ratio Worsened