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 $ 32,093 95, 806 114,610 10,645 290, 797 $ 543,951 $ 36,388 $ 37,920 66,962 50,560 85,016 54,390 10,143 4,256 270,414 239,774 $ 468,923 S 386,900 $ 135,444 $ 77,663 $ 52,092 100,218 162,500 145,789 $ 543,951 108,931 83,795 162,500 162,500 119,829 88,513 $ 468,923 $ 386,900 (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? Required 1A Required 1B Required 2A Required 2B Compute the current ratio for each of the three years. Current Ratio 7 Choose Denominator: Choose Numerator: Current Yr: 1 Yr Ago: 2 Yrs Ago: Current Ratio Current ratio 0 to 1 0 to 1 Oto 1 II Required Required 18> Complete this question by entering your answers in the tabs below. Required 1A Required 10 Required 2A Required 28 Compute the acid-test ratio for each of the three years. Acid-test ratio Choose Numerator Choose Denominator Current Yr: 1 Yr Ago: 2 Yrs Ago: Acid-Test Ratio Acid.tost ratio O to 1 oto 1 Oto 1 . -