4 Required information (The following information applies to the questions displayed below.) Simon Company's year-end balance sheets follow. Part 3 of 4 Current Yr i Yr Ago 2 Yrs Ago 2.5 points At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable Long-term nates payable secured by mortgages on plant assets Common stock, $10 par value Retained earnings Tatal liabilities and equity $ 37,164 89,500 110,500 11,968 374,534 $623, 666 $ 43, 442 $ 44,356 62,400 51,200 84,500 51,000 11,403 4.928 335,898 292,116 $ 537,643 $ 443,600 X 02:59:16 Skipped $156,846 $ 91,770 $ 59,141 118, 422 162,500 185,898 $623, 666 124,894 99,016 162,500 162,500 158,479 122,943 $ 537,643 $ 443,600 eBook 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 Sales Cost of goods sold Other operating expenses Interest expense Income tax expense Total costs and expenses Net income Current Yr $ 810,766 $ 494,567 251,337 13,783 10,540 770,227 $ 40,539 1 Yr Ago $ 639,795 $ 415,867 161,868 14,715 9,597 602,047 $ 37,748 $ 2.32 Earnings per share 2.49 (3-a) Compute inventory turnover. (3-6) For each ratio, determine if it improved or worsened in the current year. UUEDE $ 810,766 $ 639,795 4 Teaded December Sales Cost of goods sold Other operating expenses Interest expense Income tax expense Total costs and expenses Net income Earnings per share $ 494,567 251,337 13,783 10,540 $ 415, 867 161,868 14,715 9,597 770,227 40,539 602,047 $ 37,748 Part 3 of 4 S S 2.49 $ 2.32 2.5 points % 02:59:10 (3-a) Compute inventory turnover. (3-b) 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 Required 3A Required 3B Compute inventory tumover. References Inventory Turnover 1 Choose Denominator: Choose Numerator: Inventory Turnover 1 Inventory turnover 1 = times Current Yr: 1 Yr Ago: / times Required 3A Required 3B >