2 Required information [The following information applies to the questions displayed below.] Simon Company's year-end balance sheets follow. Part 2 of 3 At December 31 Current Year 1 Year Ago 2 Years Ago Assets Cash $ 26, 619 $ 32, 058 $ 32, 739 10 Accounts receivable, net 75 , 592 56, 652 43, 216 points Merchandise inventory 96, 023 71, 228 45,551 Prepaid expenses 8, 745 8, 250 3,565 03:20:01 Plant assets, net 248, 753 224, 684 205, 629 Total assets $ 455, 732 $ 392, 872 $ 330,700 Liabilities and Equity Accounts payable $ 115, 747 $ 67, 059 $ 44, 525 Long-term notes payable 84, 821 91, 264 73, 816 Common stock, $10 par value 163, 500 163, 500 162,500 eBook Retained earnings 91, 664 71, 049 49, 859 Total liabilities and equity $ 455 , 732 $ 392, 872 $ 330, 700 Hint 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 cred it: For Year Ended December 31 Current Year 1 Year Ago Sales 5 592,452 $ 46?,513 Cost of goods sold 3 361,396 5 303,88? other operating expenses 183,660 118,282 Interest expense 10,072 10,753 Income tax expense 1,302 ?,013 Total costs and expenses 562,330 439,935 Net inconm $ 29.522 5 2?:553 Earnings per share $ 1-32 3 l-TU (1-3} Compute days' sales uncollected. (1-b} Determine if davs' sales uncollected improved or worsened in the current year. (2-a) Compute accounts receivable turnover. (2-b} Determine if accounts receivable turnover ratio improved or worsened in the current year. (3-3} Compute inventory turnover. (3-bt Determine ifinventory turnover ratio improved or worsened in the current year. (4-3) Compute days' sales in inventory. (4-b} For each ratio. determine if days' sales in inventory improved or worsened in the currentyear. Complete this question by entering your answers in the tabs below, Required 1A Required 1B Required 2A Required 2B Required 3A Required 3B Required 4A Required 4B Compute days' sales uncollected. Days' Sales Uncollected Numerator: 1 Denominator: Days Days' Sales Uncollected 1 X Days' sales uncollected Current Year: 0 days 1 Year Ago: 0 days Required 1A Required 1B Required 2A Required 2B Required 3A Required 3B Required 4A Required 4B Determine if days' sales uncollected improved or worsened in the current year. Days' sales uncollected Required 1A Required 1B Required 2A Required 2B Required 3A Required 3B Required 4A Required 4B Compute accounts receivable turnover. (Round your answers to the nearest whole number.) Accounts Receivable Turnover Numerator: Denominator: = Accounts Receivable Turnover Accounts receivable turnover Current Year: 0 times 1 Year Ago: 0 times Required 1A Required 1B Required 2A Required 2B Required 3A Required 3B Required 4A Required 4B Determine if accounts receivable turnover ratio improved or worsened in the current year. Accounts receivable turnover Required 1A Required 1B Required 2A Required 2B Required 3A Required 3B Required 4A Required 4B Compute inventory turnover. (Round your answers to the nearest whole number.) Inventory Turnover Numerator: 1 Denominator: Inventory Turnover Inventory turnover Current Year: 0 times 1 Year Ago: 0 times Required 1A Required 13 Required 2A Required 2| Required 3A Required 33 Required 4A Required 43 Determine if Inventory turnover ratio improved or worsened in the current year. Inventory turnover _ ( Required 31!. Required 4A > Required 1A Required 1B Required 2A Required 2B Required 3A Required 3B Required 4A Required 4B Compute days' sales in inventory. Days' Sales In Inventory Numerator: Denominator: Days Days' Sales In Inventory X Days' sales in inventory Current Year: 0 days 1 Year Ago: 0 days Required 1A Required 1B Required 2A Required 2B Required 3A Required 3B Required 4A Required 4B For each ratio, determine if days' sales in inventory improved or worsened in the current year. Days' sales in inventory