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 $ 35,360 100,473 128,853 11,164 311,713 $ 587,563 $ 40,522 $ 40,952 68,785 56,832 91,832 59,938 10,531 4,550 294,850 259,828 $ 506,520 $ 422,100 $ 141,914 $ 83,034 $ 55,160 108,253 162,500 174,896 $ 587,563 115,335 95,150 162,500 162,500 145,651 109,290 $ 506,520 $ 422,100 (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? (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 Numerator: I Choose Denominator: Current assets / Accounts receivable, net [ $ 587,563/ Current Yr: 1 Yr Ago: 2 Yrs Ago: Current Ratio Current ratio 0 to 1 0 to 1 0 to 1 Required 1A Required 1B (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 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: Acid-Test Ratio Acid-test ratio 0 to 1 0 to 1 0 to 1 + + + +