Simon Company's year-end balance sheets follow. Current Yr At December 31 Assets 1 Yr Ago 2 Yrs Ago Cash $ 32, 702 95, 747 120,384 10,961 305,787 $ 565,581 $ 39,396 $ 41,866 69,625 55, 274 92,004 57,696 10,137 4,652 276,408 255, 112 $ 487,570 $ 414,600 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 $ 139, 421 $ 80,751 $ 54, 727 106,329 162,500 157, 331 $ 565,581 112,141 89,794 162,500 162,500 132,178 107,579 $ 487,570 $ 414,600 (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 to 1 = Current Yr: 1 Yr Ago: 2 Yrs Ago: / = to 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 $ 32, 702 95, 747 120,384 10,961 305,787 $ 565,581 $ 39,396 $ 41,866 69,625 55, 274 92,004 57,696 10,137 4,652 276,408 255, 112 $ 487,570 $ 414,600 $ 139, 421 $ 80,751 $ 54, 727 106,329 162,500 157, 331 $ 565,581 112,141 89,794 162,500 162,500 132,178 107,579 $ 487,570 $ 414,600 (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: 1 Choose Denominator: / + + = Acid-Test Ratio Acid-test ratio to 1 = + + Current Yr: 1 Yr Ago: 2 Yrs Ago: + 1 = to 1 + + / to 1