At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Current Yr 1 Yr Ago 2 Yrs Ago $ 27,524 $ 32,173 $ 32,212 89,100 113,500 62,000 51,300 82,500 55,000 8,864 Plant assets, net 213,936 8,445 205,334 3,579 173,809 Total assets $452,924 $390,452 $315,900 Liabilities and Equity Accounts payable $116,161 $ 67,966 $ 42,950 Long-term notes payable secured by mortgages on plant assets 87,704 92,498 71,908 Common stock, $10 par value 162,500 162,500 162,500 Retained earnings 86,559 Total liabilities and equity $452,924 67,488 $390,452 $315,900 38,542 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 Current Yr 31 1 Yr Ago Sales $588,801 $464,638 Cost of goods sold $359,169 $302,015 Other operating 182,528 expenses Interest expense 10,010 Income tax expense 7,654 117,553 10,687 6,970 Total costs and 559,361 437,225 expenses Net income $ 29,440 $ 27,413 Earnings per share $ 1.81 $ 1.69 (3-a) Compute inventory turnover. (3-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 Required 3A 3B Compute inventory turnover. Current Yr: 1 Yr Ago: Inventory Turnover Choose Choose Inventory Numerator: Denominator: Turnover Inventory turnover 1 0 times 0 times