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 $ 35,759 99,577 127,754 10,951 320,162 $ 594,203 $ 40,160 $ 40,189 73,148 54,137 91,922 61,210 10,757 4,511 296, 257 258, 453 $ 512,244 $ 418,500 Total assets $ 144,997 $ 88,301 $ 54,137 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 113,944 162,500 172,762 $ 594, 203 118,994 89,714 162,500 162,500 142,449 112,149 $ 512,244 $ 418,500 (1-a) Compute the curre ratio 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. Choose Numerator: Current Ratio 1 Choose Denominator: 1 Current liabilities = Current Ratio Current assets Current ratio Current Yr: / to 1 1 to 1 1 Yr Ago: 2 Yrs Ago: 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 Complete this question by entering your answers in the tabs below. Required 1A Required 1B Required 2A Required 2B Compute the acid-test ratio for each of the three years. Acid-test ratio Choose Numerator: 1 Choose Denominator: = Acid-Test Ratio + + Acid-test ratio Current Yr: + + 1 0 to 1 + + 0 to 1 1 Yr Ago: 2 Yrs Ago: 1 1 + + 0 to 1