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Check my work 9 Part 2 of 5 107 points Required information Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below) Simon Company's year-end balance sheets follow At December 31 Current Year 1 Year Ago 2 Years Ago Assets Cash $ 24,653 $ 29, 111 $ 30,631 Accounts receivable. net 70,723 51,974 40,432 Merchandise inventory 88,921 68,000 44,374 Prepaid expenses 8,182 7.565 3,403 Plant assets, net 233,899 210,912 190,562 Total assets $426,378 $367,567 $ 39, 400 Liabilities and Equity Accounts payable $ 108,291 $ 61,498 $43,249 Long-term notes payable , 159 84,548 62.010 Connon stock, $10 par value 163,500 163,500 162,500 Retained earnings 74,428 58, 029 38.641 Total liabilities and equity $426,378 5 367,567 $ 309,400 Book Hint Print References For both the current year and one year ago, compute the following ratios: Frercise 13-7 (Algol Analyzing liquidity LO P3 2015 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-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-yer period? Book Complete this question by entering your answers in the tabs below. int Required 1A Required 18 Required 2A Required 25 Compute the current ratio for each of the three years. Current Ratio Denominator: Numerator Current Ratio Current ratio rences to 1 Current Year: 1 Year Ago: 2 Years Ago: to 1 to 1 Required 1B > (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 18 Required 2A Required 28 Did the current ratio improve or worsen over the three-year period? Current ratio Required 1A Required 2A > HUS, Exercise 13-7 (Algo) Analyzing liquidity LO P3 (1-a) Compute the current ratio for each of the three years. (1-1) 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 18 Required 2A uired 28 Compute the acid-test ratio for each of the three years. Acid-test rate Denominator Numerator: Short-term investments - Acid-Test Ratio Acid-bastro 1 to 1 Current Year: 1 Year Age: 2 Years Ago = 101