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 $ 25,626 71,360 90,637 8,333 229,871 $ 425,827 $ 28,486 $ 30,897 51,393 40,788 67,912 43,000 7,940 3,467 211,361 190,848 $ 367,092 $ 309,000 $ 103,910 $ 60,798 $ 40,788 80,856 162,500 78,561 $ 425,827 162,500 57,674 $ 367,092 70,338 162,500 35,374 $ 309,000 (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 tabs below. Required 1A Required 1B Required 2A Required 2B Compute the current ratio for each of the three years. Current Ratio 1 Choose Denominator: Choose Numerator: = Current Yr: 1 Yr Ago: 2 Yrs Ago: Current Ratio Current ratio 0 to 1 0 to 1 0 to 1 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 0 to 1 + + Current Yr: 1 Yr Ago: 2 Yrs Ago: + 0 to 1 to 1