Simon Company's year-end balance sheets follow. Current Yr 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 1 Yr Ago 2 Yrs Ago $ 34,982 $ 37,191 63,112 47,643 82,564 51,776 9,183 3,970 260,958 227,729 $ 450,799 $ 368,380 $ 31,161 90, 315 110,181 9,836 281, 434 $ 522,927 $ 131,511 $ 74,661 $ 48,129 97,327 162,500 131,589 $ 522,927 104,721 80,580 162,500 162,500 108,917 77,091 $ 450,799 $ 368,300 (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 18 Required 2A Required 2B Compute the current ratio for each of the three years. Current Ratio Choose Numerator / Choose Denominator: Current Ratio $ 522,927 $ 450,799 $ 368,300 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 $ 131,511 $ 74,661 $ 48,129 97,327 104,721 80,589 162,500 162,500 162,500 131,589 108,917 77,091 $ 522,927 $ 450,799 $ 368,300 (1-a) Compute the current ratio for each of the three years. (1-1) 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 18 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 to 1 to 1 to 1 11. Required 1A Required 13 > 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 mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity $ 31,161 90,315 110,181 9,836 281,434 $ 522,927 $ 34,982 $ 37,191 63,112 47,643 82,564 51,776 9,183 3,970 260,958 227, 720 $ 450,799 $ 368,300 $ 131,511 $ 74,661 $ 48,129 97,327 162,500 131,589 $ 522,927 104,721 80,580 162,500 162,500 108,917 77,091 $ 450,799 $ 368,300 (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