Ch.13 Exercise Questions Seved 5 Required information [The following information applies to the questions displayed below] Simon Company's year-end balance sheets follow. Part 1 of 2 Current Yr 1 Yr Ago 2 Yrs Ago 0.12 points 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 $ 28,788 89,700 112,000 9,271 233,955 $ 473,714 $ 33,650 $ 33,691 62,800 se, 680 84,000 60,000 8,833 3,743 219,091 182,366 $ 408,374 $ 330,400 Skipped $ 121,493 $ $ 71,086 $ 44,921 1 eBook 91,730 162,500 97,991 $ 473,714 96,744 75,209 162,500 162,500 78,644 47,770 $ 408,374 $ 330,400 Hint The company's income statements for the Current Year and 1 Year Ago, follow. Assume that all sales are on credit: Print References 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 Current Yr $ 615,828 $ 375,655 190,907 10,469 8.005 585,237 $ 30,791 $ 1.89 1 Yr Ago $ 485,965 $ 315,877 122,949 11, 177 7,289 457,292 $ 28,673 $ 1.76 (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 I Choose Denominator: Choose Numerator x Days Days' Sales Uncollected Days' Sales Uncollected 0 days 0 days 1 X Current Yr 1 Yr Ago: x ( Required 1A Required 1B > Required 1A Required 18 For each ratio, determine if it improved or worsened in the current year. Days' sales uncollected