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 $ 27,184 79,592 98,051 8,844 256, 483 $ 470,154 $ 32,749 $ 35,506 56,743 46,422 74,232 50, 433 8,426 3,907 233, 155 211,932 $ 405, 305 $ 348, 200 $ 117,068 $ 70,551 $ 44,584 87,505 162,500 103,081 $ 470, 154 90, 424 76,183 162,500 162,500 81,830 64,933 $ 405,305 $ 348,200 (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. Choose Numerator: Current Ratio Current Ratio 1 Choose Denominator: 1 1 = Current ratio = to 1 Current Yr: 1 Yr Ago: 2 Yrs Ago: = to 1 = to 1 Required 1A Required 1B > Required 1A Required 1B Required 2A Required 2B Did the current ratio improve or worsen over the three year period? Current ratio 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: + + = to 1 1 1 + to 1 1 Yr Ago: 2 Yrs Ago: ++ + / to 1