Check 4 Part 2 of 4 14.28 points Required information [The following information applies to the questions displayed below! Simon Company's year-end balance sheets follow. At December 31 Current Yr 1 Yr Ago 2 Yrs Ago Assets Cash $ 35,143 $ 41.6855 41,135 Accounts receivable, net 89.400 62,900 50,900 Merchandise Inventory 111,500 84,000 54,000 Prepaid expenses 11,319 10,75 4,571 plant assets, net 331,011 299,832 252,794 Total assets $ 578,378 $ 498,602 5 403,400 Liabilities and Equity Accounts payable $ 148,337 86,7925 54,846 Long-tere notes payable secured by mortgages on plant assets 111,997 118,119 91,826 Common stock, $10 par value 162,500 162,500 162,500 Betained earnings 155,544 1.11.191 94,220 Total liabilities and equity 5578,378 $ 498,602 403,400 ebook The company's income statements for the current Year and 1 Year Ago follow. Assume that all sales are on credit 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 Yr $ 751,891 $ 458,654 233,086 12,782 9,775 714,297 $ 37,594 $ 2.31 1 Yr Ago $ 593,336 $385,668 150, 114 13,647 8.900 558,329 $ 35,007 $ 2.15 (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 2B Compute accounts receivable turnover, Accounts Receivable Turnover Choose Denominator: Choose Numerator: Current Ye: 1 Yr Ago: Accounts Receivable Turnover Accounts receivable turnover 0 times O times Regula Required 28 > Inventory Turnover Choose Numerator: 1 Choose Denominator: Inventory Turnover = Inventory turnover Current Yr: 1 Yr Ago: times = times Required 3B >