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 Common stock, $10 par value Retained earnings Total liabilities and equity $ 31,971 Current Year 1 Year Ago 2 Years Ago $ 25,729 73,810 $ 31,610 53,168 97,586 69,549 8,370 239,494 8,136 221,148 $ 444,989 $ 383,611 $ 111,910 81,148 163,500 88,431 $ 66,127 89,995 41,767 45,394 3,624 203,444 $ 326,200 $ 42,628 71,369 162,500 49,703 162,500 64,989 $ 444,989 $ 383,611 $ 326,200 For both the current year and one year ago, compute the following ratios: The company's income statements for the current year and one 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 Earnings per share (1-0) Compute days' sales uncollected. Current Year 1 Year Ago $ 578,486 $ 456,497 $ 352,876 $ 296,723 179,331 9,834 7,520 549,561 $ 28,925 115,494 10,499 6,847 $ 26,934 $ 1.66 $ 1.78 (1-b) Determine if days' sales uncollected improved or worsened in the current year. (2-0) Compute accounts receivable turnover. 429,563 (2-b) Determine if accounts receivable turnover ratio improved or worsened in the current year. (3-0) Compute inventory turnover. (3-b) Determine if inventory turnover ratio improved or worsened in the current year. (4-6) Compute days' sales in inventory. (4-b) For each ratio, determine if days' sales in inventory improved or worsened in the current year. Complete this question by entering your answers in the tabs below. Required 1A Required 18 Compute days' sales uncollected. Required 2A Required 2B Required 3A Required 3B Required 4A Required 4B Current Year: 1 Year Ago: Days' Sales Uncollected Numerator: Denominator: Days x = = Days' Sales Uncollected Days' sales uncollected x = 0 days x = 0 days Required 1A Required 1B >