Simon Company's year-end balance sheets follow. Current Yr 1 Yr Ago 2 Yrs Ago $ 28,742 81,653 105, 775 9,164 256,994 $ 482,328 $ 32,599 $ 34,997 58,794 46,662 78,461 49,700 8,732 3,812 237,214 214,829 $415,800 $ 350,000 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 $ 123,703 $ 70,270 $ 44,814 89,771 162,500 106,354 $ 482,328 97,54775,803 162,500 162,500 85,483 66,883 $ 415,800 $ 350,000 (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 Required 1A Required 1B Required 2A Required 2B Compute the current ratio for each of the three years. Current Ratio Choose Numerator: / Choose Denominator: Current Ratio Current ratio 1 to 1 to 1 1 Current Yr: 1 Yr Ago: 2 Yrs Ago: = = to 1 (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? Book Complete this question by entering your answers in the tabs below. Print Required 1A Required 10 Required 2A Required 28 brences Compute the acid-test ratio for each of the three years. Acid-test ratio Choose Numerator: 1 Choose Denominator: Current Yr: 1 Yr Ago: 2 Yrs Ago: Required 15 Required 28 >