5 Exercise 13-8 Analyzing and interpreting liquidity LO P3 (The following information applies to the questions displayed below. Simon Company's year-end balance sheets follow. Part 2 of 4 Current Yr 1 Yr Ago 2 Yrs Ago 0.71 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 notes payable secured by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity $ 27,069 89,900 113,000 8,717 211,119 $ 449,805 $ 31,641 $ 31,990 62,700 50,300 82,000 54,000 8,306 3,554 203,116 176,956 $ 387,763 $ 316,800 eBook $ 114,241 $ 66,843 $ 42,654 Hint 86,255 162,500 86,809 $ 449,805 90,969 71,413 162,500 162,500 67,451 40,233 $ 387,763 $ 316,800 Print The company's income statements for the Current Year and 1 Year Ago, follow. Assume that all sales are on credit: References References 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 Yr $ 584,747 $ 356,696 181,272 9,941 7,602 555,511 $ 29,236 $ 1.80 1 Yr Ago $ 461,438 $ 299,935 116,744 10,613 6,922 434,214 $ 27,224 $ 1.68 Exercise 13-8 Part 2 (2-a) Compute accounts receivable turnover. (2-b) For each ratio, determine if it improved or worsened in the current year. 5 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 $ 584,747 $ 356,696 181,272 9,941 7,602 555,511 $ 29,236 1 Yr Ago $ 461,438 $ 299,935 116, 744 10,613 6,922 434,214 $ 27,224 $ 1.68 Part 2 of 4 - Earnings per share $ 1.80 0.71 points Exercise 13-8 Part 2 eBook (2-a) Compute accounts receivable turnover. (2-b) For each ratio, determine if it improved or worsened in the current year. Hint Complete this question by entering your answers in the tabs below. Print Required 2A Required 2B References Compute accounts receivable turnover. Accounts Receivable Turnover Choose Numerator: 1 Choose Denominator: Accounts Receivable Turnover Accounts receivable turnover Current Yr: 1 Yr Ago: times times UT The company's income statements for the Current Year and 1 Year Ago, follow. Assume that all sales are on credit: t 2 of 4 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 Yr $ 584,747 $ 356,696 181,272 9,941 1 Yr Ago $ 461,438 $ 299,935 116,744 10,613 6,922 434,214 $ 27,224 7,602 ts 555,511 29,236 $ $ 1.80 $ 1.68 eBook Exercise 13-8 Part 2 Hint (2-a) Compute accounts receivable turnover. (2-b) For each ratio, determine if it improved or worsened in the current year. Print Complete this question by entering your answers in the tabs below. ferences Required 2A Required 2B For each ratio, determine if it improved or worsened in the current year. Accounts receivable turnover