Here's the revised and streamlined version: As of December 31, 2017, 2016, and 2015, the assets and liabilities were as follows: Assets: - Cash: $31,800 (2017), $35,625 (2016), $37,800 (2015) - Accounts receivable, net: $89,500 (2017), $62,500 (2016), $50,200 (2015) - Merchandise inventory: $112,500 (2017), $82,500 (2016), $54,000 (2015) - Prepaid expenses: $10,700 (2017), $9,375 (2016), $5,000 (2015) - Plant assets, net: $278,500 (2017), $255,000 (2016), $230,500 (2015) - Total assets: $523,000 (2017), $445,000 (2016), $377,500 (2015) Liabilities and Equity: - Accounts payable: $129,900 (2017), $75,250 (2016), $51,250 (2015) - Long-term notes payable secured by mortgages on plant assets: $98,500 (2017), $101,500 (2016), $83,500 (2015) - Common stock, $10 par value: $163,500 (2017), $163,500 (2016), $163,500 (2015) - Retained earnings: $131,100 (2017), $104,750 (2016), $79,250 (2015) - Total liabilities and equity: $523,000 (2017), $445,000 (2016), $377,500 (2015) Tasks: 1. Compute the current ratio for the years 2017, 2016, and 2015. 2. Compute the acid-test ratio for the years 2017, 2016, and 2015.

 To compute the current ratio, we need to know the company's current assets and current liabilities for each year. The current ratio is calculated using the formula:

Current Ratio = Current Assets / Current Liabilities

From the information you gave, we can identify the current assets (cash, accounts receivable, merchandise inventory, and prepaid expenses) and the current liability (accounts payable) for each year.

Here are the calculations for each year:

For 2017: Current Assets = Cash + Accounts Receivable, net + Merchandise Inventory + Prepaid Expenses Current Assets = $31,800 + $89,500 + $112,500 + $10,700 = $244,500 Current Liabilities = Accounts Payable Current Liabilities = $129,900 Current Ratio for 2017 = $244,500 / $129,900 ≈ 1.88

For 2016: Current Assets = $35,625 + $62,500 + $82,500 + $9,375 = $190,000 Current Liabilities = $75,250 Current Ratio for 2016 = $190,000 / $75,250 ≈ 2.52

For 2015: Current Assets = $37,800 + $50,200 + $54,000 + $5,000 = $147,000 Current Liabilities = $51,250 Current Ratio for 2015 = $147,000 / $51,250 ≈ 2.87

Next, to compute the acid-test ratio (also known as the quick ratio), we consider only the most liquid current assets (cash, accounts receivable, and marketable securities if they were listed, but merchandise inventory is excluded because it is not as liquid):

Acid-test Ratio = (Cash + Accounts Receivable) / Current Liabilities

For 2017: Quick Assets = Cash + Accounts Receivable Quick Assets = $31,800 + $89,500 = $121,300 Acid-test Ratio for 2017 = $121,300 / $129,900 ≈ 0.93

For 2016: Quick Assets = $35,625 + $62,500 = $98,125 Acid-test Ratio for 2016 = $98,125 / $75,250 ≈ 1.30

For 2015: Quick Assets = $37,800 + $50,200 = $88,000 Acid-test Ratio for 2015 = $88,000 / $51,250 ≈ 1.72