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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 $ 28,790 83, 441 108,059 9,457 258, 213 $ 487,960 $ 33,989 $ 35,412 60, 070 45,800 77, 821 50,285 8,745 3,935 240,030 222,268 $ 420,655 $ 357,700 $ 119,072 $ 70,380 $ 48,633 89, 902 162,500 116,486 $ 487,960 94,816 76,680 162,500 162,500 92,959 69,887 $ 420,655 $ 357,700 (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 1 Choose Denominator: Choose Numerator: Current Ratio Current ratio 0 to 1 Current Yr: 1 Yr Ago: 2 Yrs Ago: O to 1 ! 1 - 0 to 1 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 + 0 to 1 Current Yr: 1 Yr Ago: 2 Yrs Ago: + + / 0 to 1 + 0 to 1