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 $ 33,725 96,786 118, 076 10, 754 301,056 $ 560,397 $ 39,035 $ 41,076 68,310 55,310 90, 267 57,167 10, 044 4,474 275, 445 252,773 $ 483,101 $ 410,800 $ 138, 143 $ 82,461 $ 54,226 103,248 162,500 156,506 $ 560,397 110, 002 93,510 162,500 162,500 128, 138 100,564 483, 101 $ 410,800 (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? Check my work Complete this question by entering your answers in the tabs below. Required 1A Required 1B Required 2A Required 28 Compute the acid-test ratio for each of the three years. Acid-test ratio Choose Numerator: Acid-T Acid- Choose Denominator: Current liabilities Is $ Is Current Yr: 1 Yr Ago: 2 Yrs Ago: + + + + + + 138,143 - 82.461 54 226 Acid-test ratio Choose Numerator: Choose Denominator: Current liabilities 1$ $ = Acid-Test Ratio Acid-test ratio 138,143 - to 1 82,461 - to 1 54,226 - to 1 $ Cash Cost of goods sold Current assets Current liabilities Net sales (Required 1B Required 28 >