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4. Ex 17-8 Saved 4 Part 4 of 4 181 points (The following information applies to the questions displayed below.) Simon Company's year-end balance sheets

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4. Ex 17-8 Saved 4 Part 4 of 4 181 points (The following information applies to the questions displayed below.) Simon Company's year-end balance sheets follow, At December 31 Current Yr 1 Yr Ago 2 Yrs Ago Assets Cash $ 31,359 $36,655 37,060 Accounts receivable, net 89,400 62,600 51,900 Merchandise inventory 110,000 83,500 55,000 Prepaid expenses 10.099 9,622 4,118 Plant assets, net 280, 223 256,831 218,922 Total assets $521,081 $ 449,288 $ 367,000 Liabilities and Equity Accounts payable $132,344 $ 77,434 $ 49,413 Long-ter notes payable secured by mortgages on plant assets 99,922 105,384 82,729 Common stock, $10 par value 162,500 162,500 162,500 Retained earnings 126,315 103,890 72,358 $521,081 $ 449,208 $ 367,000 Total liabilities and equity Skipped Book Hint Print References 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 31 Current Yr 1 Yr Ago Sales $ 677,485 $ 534,558 Cost of goods sold $ 413,217 $ 347, 463 Other operating expenses 209,996 135,243 Interest expense 11,516 12,295 Income tax expense 8,886 8,018 Total costs and expenses 643,535 503,019 $ 33,870 $ 31,539 Net income $ 2.88 $ 1.94 Earnings per share 8 HH Next Saved 4 11,516 8,886 Interest expense Income tax expense Total costs and expenses Net income Earnings per share 12,295 8,018 643,535 $ 33,870 $ 2.08 503, 019 $ 31,539 $ 1.94 Part 4 of 4 1.81 points (4-a) Compute days' sales in inventory. (4-6) For each ratio, determine if it improved or worsened in the current year. Skipped Complete this question by entering your answers in the tabs below. eBook Hint Required 4A Required 48 Print Compute days' sales in inventory. References Days Sales In Inventory Choose Denominator: Choose Numerator: X Days 1 X Days' Sales In Inventory Days' sales in inventory o days o days 1 X Current Yr: 1 Yr Ago: 1 x Required 48 >

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