Refer to the Simeon Company information in Exercise 13-6. The company’s income statements for the years ended December 31, 2009 and 2008, follow. Assume that all sales are on credit and then compute:

(1) days’ sales uncollected, (2) accounts receivable turnover, (3) inventory turnover, and (4) days’ sales in inventory. Comment on the changes in the ratios from 2008 to 2009.

For Year Ended December 31 2009 2008 Sales . . . . . . . . . . . . . . . . . . . . . . . $673,500 $532,000 Cost of goods sold . . . . . . . . . . . . . $411,225 $345,500 Other operating expenses . . . . . . . 209,550 134,980 Interest expense . . . . . . . . . . . . . . 12,100 13,300 Income taxes . . . . . . . . . . . . . . . . . 9,525 8,845 Total costs and expenses . . . . . . . . 642,400 502,625 Net income . . . . . . . . . . . . . . . . . . $ 31,100 $ 29,375 Earnings per share . . . . . . . . . . . . . $ 1.90 $ 1.80.AppendixLO1