2 Part 2 of 4 2 Years Ago Required Information [The following information applies to the questions displayed below.] Simon Company's year-end balance sheets follow. At December 31 Current Year 1 Year Ago Assets Cash $ 26,905 $ 31,450 Accounts receivable, net 89, 3e0 62,280 Merchandise inventory 112,eee 82,eee Prepaid expenses 8,664 8,256 Plant assets, net 219,150 209,214 Total assets $ 456,019 $ 393,120 Liabilities and Equity Accounts payable $ 113,549 $ 66,437 Long-term notes payable 85,732 98,418 Common stock, $10 par value 162,500 162,500 Retained earnings 94,238 73,765 Total liabilities and equity $ 456,019 $ 393,120 $ 32,432 58,48e 53, we 3,684 188, 164 $ 327,680 $ 43,243 72,480 162,580 49,457 $ 327,680 The company's income statements for the current year and one year ago follow. Assume that all sales are on credit: For Year Ended December 31 Current Year 1 Year Ago Sales $ 592,825 $ 467,813 Cost of goods sold $ 361,623 $ 304,078 Other operating expenses 183,776 118,357 Interest expense 10,878 10,760 Income tax expense 7,707 7,017 Total costs and expenses 563, 184 440, 212 Net income $ 29,641 $ 27,601 Earnings per share $ 1.82 $ 1.79 (2-) Compute accounts receivable turnover. (2-6) For each ratio, determine if it improved or worsened in the current year. Complete this question by entering your answers in the tabs below. Required 2A Required 28 Compute accounts receivable turnover. Accounts Receivable Turnover Denominator: Numerator: Accounts Receivable Turnover Accounts receivable turnover times / = Current Year: 1 Year Ago: 1 times