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13/4 Requlred Information [The following information applies to the questions dispiayed below] Simon Company's year-end baiance sheets follow. For both the current year and one
13/4
Requlred Information [The following information applies to the questions dispiayed below] Simon Company's year-end baiance sheets follow. For both the current year and one year ago, compute the following ratios: The company's income statements for the current year and one year ago follow. Assume that all sales are on credit. (1-a) Compute days' sales uncollected (1-b) Determine if days' sales uncollected improved or worsened in the current year. (1-a) Compute days' sales uncoliected. (1-b) Determine if days' sales uncollected improved or worsened in the current year. (2-a) Compute accounts receivable turnover. (2-b) Determine if accounts recetvable turnover ratio improved or worsened in the current year. (3-a) Compute inventory turnover. (3-b) Determine if inventory turnover ratio improved or worsened in the current year. (4-a) Compute days' sales in inventory. (4-b) For each ratio, determine if days' sales in inventory improved or worsened in the current yeat. Complete this question by entering your answers in the tabs below. Compute days' sales uncollected. Complete this question by entering your answers in the tabs below. Compute accounts receivable turnover. (Round your answers to the nearest whole number.) Complete this question by entering your answers in the tabs below. Compute inventory turnover. (Round your answers to the nearest whole number.) Compute days' sales in inventory Step by Step Solution
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