wo Exercise 13-7 Liquidity analysis LO P3 Simon Company's year-end balance sheets follow. 2018 2017 2016 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, 510 par value Retained earnings Total liabilities and quity $ 31,800 89,500 112,500 10,700 278,500 $523,000 $ 35,625 62,500 82,500 9,375 255,000 $445,000 $ 37,800 50,200 54,000 5,000 230,500 5 377,500 $129,900 $ 75,250 $ 51,25 98.500 101.500 83,500 163,500 163,500 163,500 131,100 104,750 79,250 $523,000 $445,000 $ 377,500 1. Compute the current ratio for the years ended December 31, 2018, 2017 and 2016 2. Compute the acid-test ratio for the years ended December 31, 2018, 2017 and 2016, Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the current ratio for the years ended December 31, 2018, 2017, and 2016 Choose Numerator: Current Ratio Choose Denominator: II - - Current Ratio Current ratio t o 1 2018: 2017: 2016: I = Required 2 >