Chapters 111213 Save The following information applies to the questions displayed below) Simon Company's year end balance sheets follow. Current Yr 1 Yr A 2 Yrs Ago $ 31,093 89,700 113,000 10,013 293,946 $ 537,752 $ 36,3455 38,245 62,100 S1, See 84,000 56,000 9,540 4,249 271, 594 244 206 $ 463,579 5 394,200 AE December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses plant assets, nut 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 $ 131,222 $ 76,773 $50,994 99,075 162,500 344 955 $ 537,752 184,491 85,376 162,500 162,500 119,810 95330 $ 463,579 5 394,200 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 woods sold other operating expenses Interest expense Income tax expense Total costs and expenses Net income Earnings per share Current Y $ 699,078 $426,438 216,714 11,384 9,888 664,124 $ 34,954 5 2.15 YA $ 551,659 $ 358,578 139,570 12.685 3 275 $19,111 $ 32,545 5 2.00 CS 10 meducation.com/ext/map/indexhtml?con=con vexternal browser=0&launchd-http%253A%252F%252Fnewconnected Chapters 11,12,13 6 Sa total costs and expenses Net income 004, 34,954 $ AL $ 32,548 Earnings per share $ 2.15 $ 2.00 (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 3A Required 3B For each ratio determine if it improved or worsened in the current year. Inventory turnover