Chap 13 Homework 4 Part 2 of 4 Simon Company's year-end balance sheets follow. At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Current Yr 1 Yr Ago 2 Yrs Ago $ 31,470 89,700 3 36,785 $ 17,191 62,400 51,700 110,000 84,000 56,000 10,134 9,656) 4,132 201,623 257,958 219,277 14.28 Total assets $522,927 $450,799 $ 360,300 Liabilities and Equity Accounts payable $132,813 $ 77,709 5 49,588 Long-tere notes payable secured by sortgages on plant assets 100,276 105,757 63,022 Common stock, $10 par value 162,500 162,500 162,500 Retained earnings 127,358 104,833 73,196 Total liabilities and equity. $522,937 $ 450,799 $368,300 e o References 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 Current Ye $679,805 1 Yr Ago $536,451 $414,681 210,740 11,557 $348,693 135,722 12,338 0,037 8,047 645,815 $ 31,990 $ 2.09 504,000 5 31,651 1 1.95 (2-a) Compute accounts receivable turnover. (2-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. CON Required 2A Required 2B Compute accounts receivable turnover (2-a) Compute accounts receivable turnover (2-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 2A Required 28 Deferences Compute accounts receivable turnover Accounts Receivable Turnier Choose Numerator: Choose Denominator Accounts Receivable Turnover Accounts receivable turnover Current Yr Soes 1 Yr Ago: times Required 28 > ht (2-0) Compute accounts receivable turnover. (2-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. ances Required 2A Required 28 For each ratio, determine if it improved or worsened in the current year. Accounts receivable turnover < Required 2A Required 201>