View previous atte 1 Simon Company's year-end balance sheets follow. Current Yr 1 Yr Ago 2 Yrs Ago 10 points 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 $ 31,953 90,775 112,980 10,290 290,213 $ 536,211 $ 37,720 $ 38,136 63,421 50, 848 87,227 55,805 9,416 4,323 264,467 239,988 $ 162,251 $ 369,100 8 09:00:12 $ 133,517 $ 76,558 $ 52,902 eBook 97,783 162,500 142,411 $ 536, 211 109,507 87,711 162,500 162,500 113, 686 85,987 $ 462,251 $ 389,100 References (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 28 Compute the current ratio for each of the three years. Choose Numerator: Current assets Current Ratio 1 Choose Denominator: / Current liabilities / Current Yr: 1 Yr Ago: 2 Yrs Ago: = = Current Ratio Current ratio O to 1 0 to 1 0 to 1 1 1