Refer to Simon Company's balance sheets in Exercise 13-6. Analyze its year-end short-term liquidity position at the end of 2015, 2014, and 2013 by computing

(1) The current ratio and

(2) The acid-test ratio.

Comment on the ratio results. (Round ratio amounts to two decimals.)

In Exercise 13-6

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At December 31 2015 2014 2013 Assets Accounts recelvable, net. Merchandise Inventory Prepald expenses Plant assets, net Total assets $ 31,800 35,625 $ 37,800 50,200 54,000 5,000 278,500 255.000 230.500 $523,000 $445,000 $377,500 89,500 62,500 1 12,500 82,500 9,375 0,700 Liabilities and Equity Accounts payable Long-term notes payable secured by $129,900 75,250 51,250 mortgages on plant assets Common stock, $10 par value Retalned earnings Total llabilitles and equity 98,500 101,500 83,500 63,500 163,500 63,500 131,100 104.750 79,230 79,250 $523,000 $445,000 $377,500