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 $ 35,356 89,600 115,000 11,386 347,914 $599, 256 $ 41,328 $ 42,620 62,900 50,900 83,500 53,000 10,849 4,736 318,023 279, 244 $ 516,600 $ 430,500 $149, 215 $ 87,305 $ 56,826 112,660 162,500 174,881 $599,256 118,818 95,141 162,500 162,500 147,977 116,033 $ 516, 600 $ 430,500 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 $ 779,033 $ 475,210 241,500 13,244 10,127 740,081 $ 38,952 $ 2.40 1 Yr Ago $ 614,754 $ 399,590 155,533 14,139 9,221 578,483 $ 36,271 2.23 Compute days' sales uncollected Choose Numerator: Days' Sales Uncollected 1 Choose Denominator X Days x Current Yr: 1 Yr Ago: Days' Sales Uncollected Days' Sales Uncollected 0 days o days X X 1 Required 18 > For each ratio, determine if it improved or worsened in the current year. Days' sales uncollected Google Facebook Twitt : Homework 0 Saved 4 Exercise 17-8 Part 2 2 of 4 (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. pped Required 2A Required 24 Book Hint For each ratio, determine if it improved or worsened in the current year. Ask Accounts receivable turnover Print (4-a) Compute days' sales in inventory. (4-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 4A Required 4B For each ratio, determine if it improved or worsened in the current year. Days' sales in inventory
