5 Part 2 of 4 Required information [The following information applies to the questions displayed below) Simon Company's year-end balance sheets follow. 7:14 point Spoed 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 Connon stock, sie par value Betained earnings Total llabilities and equity Current Y 1 yr Ago 2 Yrs Ago $ 31,800 $ 35,625 $ 37,800 89,500 62,500 50,200 112,500 82,500 54,000 10,700 9,375 5,000 278,500 255,000 230, see $ 523,000 $ 445,000 $377,500 Book $ 129,900 $ 75,250 $ 51,250 HI 98,500 16),50e 111 100 S523,000 181,500 83,500 16), see 163,500 104250 79, 250 $445,000 $377,500 Pri 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 11 Sales Cost of goods sold Other operating expenses Interest expense 1 Yr Ago Current Yr 5673,500 209.550 12.100 $ 145,500 134,90 13,300 Total costs and expenses Net Income Earnings per share $ 31.100 1.90 $ 29,175 $ 1.30 (2-a) Compute accounts receivable turnover (2.b) For each rato determine fit improved or worsened in the current year Complete this question by entering your answers in the tabs below. Required 2A For each ratio determine improved or worsened in the current year Acos recevabe turnover Ch 13 Homework 5 89,500 112, see 10,700 278,500 $ 523,000 62,500 se, 200 82,500 54,000 9,375 5,000 255,000 238,500 $ 445,200 $ 377,500 Part 2 of 4 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 Connon stock, sie par value Retained earnings Total liabilities and equity $ 129,900 $ 75,250 $ 51,250 714 points 98,5ee 163, see 131, 100 $ 523,000 101,500 83,500 163,500 163,500 104,750 79,250 $ 445,000 $ 377,500 Sed The company's income statements for the Current Year and 1 Year Ago follow. Assume that all sales are on credit: eBook Hint 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 $673,500 $411,225 209,550 12,100 9.525 642,400 $ 31,100 5 1.90 1 Yr Ago $ 532,000 $ 145,500 134,980 13,300 8,845 502,625 $ 29,375 Prime $ (2-a) Compute accounts receivable turnover, (2.b) 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 2A Required 25 Compute accounts receivable turnover Choose Numerator Accounts Receivable Turnover Choose Denominator: Current Yr 1 Yr Ago - Accounts Receivable Turnover Accounts recevable uover times imes Required 28 >