4 Part 4 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 89,300 62,280 Merchandise inventory 112, eee 82,we Prepaid expenses 8,664 8,256 Plant assets, net 219,150 209,214 Total assets $ 456,819 $ 393,120 Liabilities and Equity Accounts payable $ 113,549 $ 66,437 Long-term notes payable 85,732 99,418 Common stock, $10 par value 162,500 162,500 Retained earnings 94,238 73,765 Total liabilities and equity $ 456,819 $ 393,120 $ 32,432 58,480 53,000 3,684 188,164 $ 327,680 $ 43,243 72,400 162,500 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 Sales Cost of goods sold Other operating expenses Interest expense Income tax expense Total costs and expenses Net income Earnings per share Current Year $ 592,825 $ 361,623 183,776 10,878 7,707 563, 184 $ 29,641 1 Year Ago $ 467,813 $ 384,878 118,357 10, 768 7,017 440, 212 $ 27,601 $ 1.70 $ 1.82 (4-6) Compute days' sales in inventory. (4-6) 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 4A Required 48 Compute days' sales in inventory. Days' Sales In Inventory Denominator: Numerator: 1 x Days II 11 1 Days' Sales In Inventory Days' sales in inventory days days 1 Current Year: 1 Year Ago: 1 (Required 4A Required 4B >