Current Yr 1 Yr Ago 2 Yrs Ago 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 $ 33, 461 89,600 113,500 10,776 314,188 $561,525 $ 39,113 $ 39,936 62,500 50,800 82,000 59,000 10,267 4,437 290,193 245,227 $ 484,073 $ 399,400 $141,218 $ 82,626 $ 53,248 106,622 162,500 151,185 $561,525 112,450 89,150 162,500 162,500 126,497 94,502 $ 484,073 $ 399,400 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 $ 729,983 $ 445,290 226,295 12,410 9,490 693,485 $ 36, 498 1 Yr Ago $ 576,047 $ 374,431 145,740 13,249 8,641 542,061 $ 33,986 $ 2.09 $ 2.25 Required 2A Required 2B Compute accounts receivable turnover. Choose Numerator: Accounts Receivable Turnover 1 Choose Denominator: / Il Accounts Receivable Turnover Accounts receivable turnover times times = Current Yr: 1 Yr Ago: = Required 2A Required 2B For each ratio, determine if it improved or worsened in the current year. Accounts receivable turnover