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 $ 37,849 109,698 137,924 12,309 337,376 $ 635, 156 $ 44,242 $ 42,980 78,190 59,646 100, 283 62,277 11,499 4,922 313, 334 273, 175 $ 547,548 $ 443,000 $ 158, 154 $ 91,610 $ 59,061 121,798 162,500 192,704 $ 635, 156 125,936 98,882 162,500 162,500 167,502 122,557 $ 547,548 $ 443,000 (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 Compute the current ratio for each of the three years. Current Ratio Choose Numerator: 1 Choose Denominator: Current Ratio = Current ratio Current Yr: 1 to 1 1 to 1 1 Yr Ago: 2 Yrs Ago: 1 = to 1 (Required 1A Required 1B 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 $ 37,849 109,698 137,924 12,309 337, 376 $ 635, 156 $ 44,242 $ 42,980 78, 190 59,646 100,283 62,277 11,499 4,922 313, 334 273, 175 $ 547,548 $ 443,000 $ 158, 154 $ 91,610 $ 59,061 121,798 162,500 192,704 $ 635, 156 125,936 98,882 162,500 162,500 167,502 122,557 $ 547,548 $ 443,000 (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 current ratio improve or worsen over the three year period? Current ratio 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 $ 37,849 109,698 137,924 12,309 337,376 $ 635, 156 $ 44,242 $ 42,980 78,190 59,646 100, 283 62,277 11,499 4,922 313, 334 273, 175 $ 547,548 $ 443,000 $ 158, 154 $ 91,610 $ 59,061 121,798 162,500 192,704 $ 635, 156 125,936 98,882 162,500 162,500 167,502 122,557 $ 547,548 $ 443,000 (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 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: + 1 = Acid-Test Ratio Acid-test ratio = to 1 = + + 1 Current Yr: 1 Yr Ago: 2 Yrs Ago: + T 1 to 1 to 1 + + 1 = 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 $ 37,849 109,698 137,924 12,309 337,376 $ 635, 156 $ 44,242 $ 42,980 78, 190 59,646 100,283 62,277 11,499 4,922 313, 334 273, 175 $ 547,548 $ 443,000 $ 158, 154 $ 91,610 $ 59,061 121,798 162,500 192,704 $ 635,156 125,936 98,882 162,500 162,500 167,502 122,557 $ 547,548 $ 443,000 (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 acid-test ratio improve or worsen over the three year period? Acid-test ratio