Required information Use the following information for the Exercises below. (Static) [The following information applies to the questions displayed below.] Simon Company's year-end balance sheets follow. For both the current year and one year ago, compute the following ratios: Exercise 13-7 (Static) 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-year period? Compute the current ratio for each of the three years. Compute the acid-test ratio for each of the three years. \begin{tabular}{|l|l|l|l|l|l|l|l|l|} \hline & \multicolumn{4}{|c|}{ Days' Sales In Inventory } \\ & Numerator: & I & \multicolumn{1}{|c|}{ Denominator: } & x & Days & \multicolumn{2}{|c|}{DaysSalesInInventory} \\ \hline & & / & & x & & Dayssalesininventory \\ \hline Current Year: & & / & & x & & 0 & days \\ \hline 1 Year Ago: & & & & & & = & 0 & days \\ \hline \end{tabular}