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 $ 32,788 92,261 113,681 10,046 290,763 $ 539,539 $ 36,465 $ 36,868 65,117 51,163 87,768 53,960 9,670 4,180 266,100 233,829 $ 465,120 $ 380,000 $ 135,689 $ 79,391 $ 50,160 101,433 162,500 139,917 $ 539,539 106,978 83,980 162,500 162,500 116,251 83,360 $ 465,120 $ 380,000 (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? Common stock, $10 par value Retained earnings Total liabilities and equity 162,500 139,917 $ 539,539 162,500 162,500 116, 251 83,360 $ 465,120 $ 380,000 (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 Choose Numerator: 1 Choose Denominator: Current Ratio / = Current ratio Current Yr: / = to 1 = to 1 1 Yr Ago: 2 Yrs Ago: to 1 $ 135,689 $ 79,391 $ 50, 160 Accounts payable Long-term notes payable secured by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity 101,433 162,500 139,917 $ 539,539 106,978 83,980 162,500 162,500 116,251 83,360 $ 465,120 $ 380,000 (1-a) Compute the current ratio for each of the three years. (9-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 Did the current ratio improve or worsen over the three year period? Current ratio Common stock, $10 par value Retained earnings Total liabilities and equity 162,500 139,917 $ 539,539 162,500 162,500 116, 251 83,360 $ 465,120 $ 380,000 (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 acid-test ratio for each of the three years. Acid-test ratio Choose Numerator: = Acid-Test Ratio 1 Choose Denominator: 1 Acid-test ratio to 1 Current Yr: + + + + 1 to 1 1 Yr Ago: 2 Yrs Ago: + to 1 $ 135,689 $ 79,391 $ 50,160 Accounts payable Long-term notes payable secured by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity 101,433 162,500 139,917 $ 539,539 106,978 83,980 162,500 162,500 116, 251 83,360 $ 465, 120 $ 380,000 (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 Did the acid-test ratio improve or worsen over the three year period? Acid-test ratio