8 00 At December Assets Part 2 of 4 Cash Accounts receivable, net Merchandise Inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Current W $31,0 535,625 $317.000 89,500 62,500 50,200 112,500 $3,500 10,700 9,375 5,000 278,500 205,000 230,500 $ $23,000 $129,900 $ 75,250 $51,250 $445,000 $377,500 points Sapped ook 01 10 Accounts payable Long-tere notes payable secured by mortgages on plant assets Conson stock, $10 par value Retained earnings Total liabilities and equity 8,500 163,500 $ 523,000 101.500 3,500 29,35 163,500 161,500 $445,000 $377,500 The company's income statements for the Current Year and 1 Year Ago, follow Assume that all sales are on credit Sales Ended Decentr Cost of goods sold other operating expenses Pri Interest expense Current $673,500 $532,000 $411,225 $345,500 209,550 Income tax expense Total costs and expenses 12.100 9,525 Net Income References Earnings per share 134,900 13,300 8,845 643,000 511,100 $29,375 1.90 $ 1.00 (2-a) Compute accounts receivable turnover (2-b) For each ratio, determine if it improved or worsened in the current year.