4. Ex 17.8 Helle Save & Suome Chcemy w 3 178 Dom The following information applies to the questions displayed below! Simon Company year-end balance sheets follow At December 31 on YY1002 Assets Cash 1 31.10 55 3.0 Accounts recevantne 89,00 2,600 55.00 Merchandise inventory 110,000 83,500 55,00 Prepaid expenses 10,099 9,622 4.138 plant assets, 286,223 254,121.972 Total atsets 1521,651 5 409,200 $167.000 Lisbilities and uity Accounts payable $77,434 49,413 Long-te notes pole secured by mortgages plant assets 99,922 105, 154 32,720 Como stock. $10 per value 162500 10,500 162.500 Retained earnings 120,315 10), 22:35 Totat 1sabilities and equity 5523,031 $448.200 $367,000 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 Current Y 19 Sales Sans Cost of goods sold $ 411,211 $ 347,463 other egerating expenses 209, 135.23 Interest expose 11,510 12,205 Tacone tax expense Total costs and expenses 613,335 53.11 Net income $33,70 531,539 Earnings per share 2.1 5 1.94 (3-0) Compute inventory turnover (3-6) For each to determine if improved or worsened in the current year of 4 !!! Total costs and expenses Net Income Earnings per share 643,535 $ 33,870 $ 2.08 50.1, 019 $ 31,539 1.94 Part 3 of 4 178 points (3-a) Compute inventory turnover. (3-6) For each ratio, determine if it improved or worsened in the current year. Complete this question by entering your answers in the tabs below. Book Required 3A Required 36 Compute inventory turnover. Hint Choose Numerator Inventory Turnover + Choose Denominator 1 Paint Inventory Turnover Inventory turnover times times Current Yr: 1 Yr Ago: #.. 1 References Required 30 > MC GEW