Current Year 1 Year Ago 2 Years Ago $ 39,730 50,900 $ 32,300 89,500 110,500 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 10,402 315,922 $ 558,624 $ 37,755 62,800 84,000 9,911 287,106 $ 481,572 $ 136,315 Long-term notes payable Common stock, $10 par value Retained earnings 102,921 162,500 156,888 $ 79,758 108,546 162,500 130,768 Total liabilities and equity $ 558,624 $ 481,572 54,000 4,414 260,456 $ 409,500 $ 52,973 88,690 162,500 105,337 $ 409,500 The company's income statements for the current year and one 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 Year $ 726,211 $ 442,989 225,125 12,346 9,441 $ 36,310 689,901 $ 2.23 1 Year Ago $ 573,071 $ 372,496 144,987 13,181 8,596 539,260 $ 33,811 $ 2.08 (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. Current Year: 1 Year Ago: Numerator: Accounts Receivable Turnover Denominator: S Accounts Receivable Turnover = Accounts receivable turnover times == = Required 2B times Required 2A Required B For each ratio, determine if it improved or worsened in the current year. Accounts receivable turnover < Required 2A