year-end Udidlice Sheets now. At December 31 Current Year 1 Year Ago 2 Years Ago Assets Cash Accounts receivable, net $ 25,299 74,806 $ 29,274 $ 30,805 51,229 Merchandise inventory 95,917 69,768 42,732 45,077 Prepaid expenses Plant assets, net Total assets $ 433,130 Liabilities and Equity Accounts payable $ 107,849 Long-term notes payable 78,986 Common stock, $10 par value 163,500 8,229 228,879 7,606 215,511 $ 373,388 $ 62,472 87,597 162,500 3,423 192,263 $ 314,300 $ 41,488 68,071 163,500 Retained earnings 82,795 60,819 41,241 Total liabilities and equity $433,130 $ 373,388 $314,300 Exercise 13-7 (Algo) Analyzing liquidity LO P3 (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? (2-0) 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 18 Required 2A Required 28 Compute the current ratio for each of the three years. Choose Numerator: Current assets Current Year: 1 Year Ago: 2 Years Ago: Current Ratio Choose Denominator: Current liabilities Current Ratio Current ratio 1 0 to 1 0 to 1 Required 18 0 to 1