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 Current Yr 1 Yr Ago 2 Yrs Ago $ 27,524 $ 32,173 $ 32,212 89,100 62,000 51,300 113,500 82,500 55,000 8,864 8,445 3,579 213,936 205,334 173,809 $452,924 $390,452 $315,900 $116,161 $ 67,966 $ 42,950 87,704 92,498 71,908 162,500 162,500 162,500 86,559 $452,924 67,488 38,542 $390,452 $315,900 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 Other operating expenses Cost of goods sold Interest expense Income tax expense Total costs and expenses Net income Earnings per share Current Yr $ 359,169 182,528 $ 588,801 1 Yr Ago $464,638 10,010 7,654 $ 302,015 117,553 10,687 6,970 559,361 $ 29,440 $ 1.81 437,225 $ 27,413 $ 1.69 (4-a) Compute days' sales in inventory. (4-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 4A Required 4B Compute days' sales in inventory. Current Yr: 1 Yr Ago: Choose Numerator: Days' Sales In Inventory Choose Denominator: Days = Days' Sales In Inventory X Days' sales in inventory = X = days days