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 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 $ 36,805 105,604 135,459 11,852 334,086 $ 623,806 $ 43,451 $ 44,366 73,028 60,325 96,502 61,745 11,519 4,734 313, 264 272,530 $ 537,764 $ 443,700 $ 156,881 $ 89,973 $ 58,568 117,276 162,500 187,149 $ 623,806 126, 159 100,019 162,500 162,500 159, 132 122,613 $ 537,764 $ 443,700 (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? 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 oto 1 + + Current Yr: 1 Yr Ago: 2 Yrs Ago: + + 1 = 0 to 1 0 to 1 = 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: Il Choose Numerator: Cost of goods sold 1 $ 21/ 1 11 Current Yr: 1 Yr Ago: 2 Yrs Ago: Current Ratio = Current ratio 0 to 1 0 to 1 oto 1 11 1 Required 1A Required 1B >