Simon Company's year-end balance sheets follow. Current Yr 1 Yr Ago 2 Yrs Ago $ 29,792 87,228 107,457 9,986 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 $ 35,535 $ 35,209 60,943 48,382 82,997 51,532 9,235 3,912 255,480 223,865 $ 444,190 $ 362,900 280,797 $ 515,260 $ 124,451 $ 73,567 $ 48,382 97,838 162,500 130,471 $ 515,260 101,142 81,805 162,500 162,500 106,981 70,213 $444,190 $362,900 (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 Ratio Choose Denominator: Choose Numerator: Current Ratio Current ratio 1 to 1 Current Yr: 1 Yr Ago: 2 Yrs Ago: = to 1 to 1 Red 1A Required 1B > Prey 1 of 1 Next