2 Years Ago [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 $ 28,570 $ 33,395 Accounts receivable, net 89,700 62,200 Merchandise inventory 110,500 82,500 Prepaid expenses 9,200 8,766 Plant assets, net 232,159 218,423 Total assets $ 470,129 $ 485,284 Liabilities and Equity Accounts payable $ 120,574 $ 70,548 Long term notes payable 91,036 96,012 Common stock, $10 par value 162,500 162,500 Retained earnings 96,019 76,224 Total liabilities and equity $ 470,129 $ 405,284 $ 33,436 51,800 52,00 3,715 186,949 $ 327,900 $ 44,581 74,640 162,500 46, 179 $ 327,900 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 Sales Cost of goods sold Other operating expenses Interest expense Income tax expense Total costs and expenses Net income Current Year $ 611, 168 $ 372,812 189,462 10,390 7.945 580,609 $ 30,559 1 Year Ago $ 482,288 $ 313,487 122,019 11,093 7,234 453,833 $ 28,455 Complete this question by entering your answers in the tabs below. Required 2A Required 28 Compute accounts receivable turnover Accounts Receivable Turnover Denominator: Numerator: urrent Year: Accounts Recevable Turnover Accounts receivable turnover O times O times Year Ago: Required 28 >