10 Part 4 of 4 118 ponts Assets Cash Accounts receivable, et Merchandise Inventory Prepaid expenses Plant assets, het Total assets Liabilities and Equity Accounts payable Long-term notes payable secured by wortgages on plant assets Common stock, $10 par value Retained earnings Current 5 31,000 $35,625 17,300 112,500 10,700 275,500 63,500 82,500 58,200 $4,000 9.375 5,000 255,000 230,500 $ $23,000 1 445,000 1 377,500 $ 129,900 $75,250 $3,250 98,500 143,500 101.500 163,500 83,500 163,500 104,750 79,250 - Prest Total liabilities and equity 131,100. $ $23,000 $ 445,000 $377,5ee The company's income statements for the Current Year and 1 Year Ago, follow. Assume that all sales are on credit For Year Ended December 31 sales Cost of goods sold Current $673,500 $411,225 other operating expenses Interest expense 12,100 Income tax expense 9,525 Total costs and expenses Net Incone 642,400 $31,100 Meferences Earnings per share 1 Yr Agn $345,500 134,980 13,300 8,845 $532,000 542,625 $29,375 1.00 (4-a) Compute days' sales in inventory (b) for each ratio determine if it improved or worsened in the current year.