5 Required information Exercise 17-8 Analyzing and interpreting liquidity LO P3 (The following information applies to the questions displayed below.) Part 1 of 4 Simon Company's year-end balance sheets follow. 0.66 points Current Yr 1 Yr Ago 2 Yrs Ago eBook 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 $ 30,724 89, 300 111,500 9,894 284,596 $526,014 $ 35,914 $ 37, 410 62,000 50, 600 85,000 58,000 9,427 4,157 261,119 231,533 $ 453, 460 $ 381,700 101 Hint $129,668 $ 75, 868 $ 49,881 G Print 97,902 162,500 135, 944 $526,014 103, 253 83,512 162,500 162,500 111,839 85,807 453, 460 $ 381,700 Perences 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 $ 683,818 $ 417,129 211,984 11,625 8,890 649,628 $ 34,190 1 Yr Ago $ 539,617 $ 350, 751 136,523 12,411 8,094 507,779 $ 31,838 Earnings per share $ 2.10 $ 1.96 Exercise 17-8 Part 1 (1-a) Compute days' sales uncollected. (1-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 1A Required 1B Compute days' sales uncollected. Days' Sales Uncollected Choose Numerator: | Choose Denominator: Days Days' Sales Uncollected Days' Sales Uncollected / X II Current Yr: x days days 1 Yr Ago: 1 = Required 1A Required 1B > Required 1A Required 1B For each ratio, determine if it improved or worsened in the current year. Days' sales uncollected Required 3A Required 3B For each ratio, determine if it improved or worsened in the current year. Inventory turnover