Required information

Use the following Information for the Exercises below. $($Algo$)$

$[$The following information applies to the questions cllsplayed below.$]$

Simon Company's year$-$end balance sheets follow.

For both the current year and one year ago, compute the following ratlos:

Exerclse $13-7($Algo$)$ Analyzing llquidity LO P$3$

$(1-$a$)$ Compute the current ratlo for each of the three years.

$(1-$b$)$ Did the current ratio Improve or worsen over the three$-$year perlod?

$(2-$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 perlod?

Complete this question by entering your answers in the tabs below.

Compute the acid$-$test ratio for each of the three years.