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Exercise 13-7 Liquidity analysis LO P3 Simon Company's year-end balance sheets follow 016 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 25,136 29,675 30, 609 71,394 S0, 903 41,224 93,428 67,265 43,460 3, 367 227,974 211,632 193, 640 $426, 027 367,265 312,300 8,095 7,790 s 107,142 $ 63,930 42,048 mortgages on plant a et Common atock, $10 par value Retained earnings Total 1iabilities and equity 80, 894 84, 471 69,018 162, 500 162,500 162,500 56, 364 38, 734 426, 027 367,265 312,300 75,49156,30 1. Compute the current ratio for the year ended 2017, 2016, and 2015 2. Compute the acid-test ratio for the year ended 2017, 2016, and 2015 Prey 1 of 1 re to search 6 8 3 Answer is not complete. Complete this question by entering your answers in the tabs below 10 points Required 1 Required 2 Compute the acid-test ratio for the years ended December 31, 2017, 2016, and 2015. Choose Nu -Acid-test ratio 2017: 2016: 2015: 25,136S 29,675$ 30,609 96,530$ 80,578 +S 71,833 + 71,394S 50,903 41,224 s 107,1420 11.80 | 63,930 2521 42.048 342o to