Please help me with all answers thanku For both the current year and one year ago, compute the following ratios:(1-0) 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?& Answer is not complete.Complete this question by entering your answers in the tabs below.Required 1A Required 18 Required 2ACompute the current ratio for each of the three years.Current Year:1 Year Ago:2Years Ago:Numerator:Current liabilitiesRequired 1A Required 18Required 28Current Year:1 Year Ago:2 Years Ago:xCurrent RatioRequired 2A1For both the current year and one year ago, compute the following ratios:Current assets(1-0) 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.Denominator:Required 28Compute the acid-test ratio for each of the three years.Numerator:Required 18 >Short-terminvestments*Acid-Test RatioCurrent RatioCurrent ratio0to 10to 10to 1Answer is not complete.Denominator:.|=Acid-Test RatioAcd-test rabo0to tto 100to 1Return Simon Company's year-end balance sheets follow.At December 31AssetsCashAccounts receivable, netMerchandise inventoryPrepaid expensesPlant assets, netTotal assetsCurrent Year$ 31,80089,500112,50010,700278,500$ 523,0001 Year Ago$ 35,62562,50082,5009,375255,000$ 445,000Liabilities and EquityAccounts payableLong-term notes payableCommon stock, $10 par valueRetained earningsTotal liabilities and equityFor both the current year and one year ago, compute the following ratios:$ 129,90098,500163,500131,100$ 523,000$ 75,250101,500163,500.104,750$ 445,000(1-0) 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?Answer is not complete.Complete this question by entering your answers in the tabs below.2 Years Ago$ 37,80050,20054,0005,000230,500$ 377,500$ 51,25083,500163,50079,250$ 377,500

Current assets are the assets which are in the form of cash or can be converted into cash within a…

Simon Company's year-end balance sheets follow. At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Current Year $ 31,800 89,500 112,500 10,700 278,500 $ 523,000 1 Year Ago $ 35,625 62,500 82,500 9,375 255,000 $ 445,000 Liabilities and Equity Accounts payable Long-term notes payable Common stock, $10 par value Retained earnings Total liabilities and equity For both the current year and one year ago, compute the following ratios: $ 129,900 98,500 163,500 131,100 $ 523,000 $75,250 101,500 163,500 104,750 $ 445,000 (1-0) 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? 2 Years Ago $ 37,800 50,200 54,000 5,000 230,500 $ 377,500 $ 51,250 83,500 163,500 79.250 $ 377,500