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 $ 36,025 104,411 132,577 11,257 320,276 $ 604,546 $ 42,944 $ 42,570 73,692 56,760 94,486 61,060 11,054 4,777 298,984 264,833 $ 521,160 $ 430,000 $ 149,027 $ 90,718 $ 56,760 114,791 162,500 178,228 $ 604,546 123,463 96,931 162,500 162,500 144,479 113,809 $ 521,160 $ 430,000 (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: | Choose Denominator: Current Ratio 1 II Current ratio Current Yr: to 1 1 II to 1 1 Yr Ago: 2 Yrs Ago: 1 II to 1 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: = Acid-Test Ratio + + Acid-test ratio Current Yr: + + 1 II = to 1 + + II to 1 1 Yr Ago: 2 Yrs Ago: + + 1 II to 1 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