Chap 13 Homework 3 Saved Part 1 of 4 14.28 points eBook Hint Print References Required information [The following information applies to the questions displayed below] Simon Company's year-end balance sheets follow 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 Ye 1 Yr Ago 2 Yes Ago $ 36,785 $ 37,191 62,400 84,000 9,656 257,958 51,700 56,000 4,132 219,277 $ 450,799 $368,300 $31,420 89,700 110,000 10,134 281,623 $ 522,927 $132,013 $ 77,709 $ 49,588 100,276 105,757 83,022 162,500 162,500 162,500 127,338 104,833 73,190 $ 522,927 $ 450,799 $368,300 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 Cost of goods sold Other operating expenses Interest expense Income tax expense Total costs and expenses Net income Earnings per share 210,740 1 Ye Ago Current Yr $679,805 $ 536,451 $414,681 11,557 $348,693 135,722 12,338 8,837 8,047 $ 645,815 33,990 504,800 $31,651 2.09 $ 1.95 (1-6) Compute days' sales uncollected. (1-b) For each ratio, determine if it improved or worsened in the current year. Compute days' sales uncollected. Current Ye 1 Yr Ago: Choose Numerator: Days Sales Uncollected Choose Denominator: x Days Days' Sales Uncollected x Days' Sales Uncollected 0 days Odays