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 $ 31,800 89,500 112,500 10,700 278,500 $ 523,000 $ 35,625 $ 37,800 62,500 50,200 82,500 54,000 9,375 5,000 255,000 230,500 $ 445,000 S 377,500 $ 129,900 $ 75,250 $ 51,250 98,500 163,500 131, 100 $ 523,000 101,500 83,500 163,500 163,500 104,750 79, 250 $ 445,000 $ 377,500 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 Current Yr 1 Yr Ago Sales $673,500 $ 532,000 Cout of goods sold $411,225 $345,500 Other operating expenses 209,550 134,980 Interest expense 12,100 13,300 Income tax expense 9.525 8,845 Total costs and expenses 642,400 502,625 Net income $ 31,100 $ 29,375 Earnings per share $ 1.90 S 1.80 (1-a) Compute days' sales uncollected. (1-b) For each ratio, determine if it improved or worsened in the current year, Required 1A Required 1B Compute days' sales uncollected Days Sales Uncollected Choose Numerator: Choone Denominator Days X Days' Sales Uncollected Days' Sales Uncollected o days o days X Current Yr: 1 Yr Ago: x . Required 1B > Complete this question by entering your answers in the tabs below. Required IA Required 18 For each ratio, determine if it improved or worsened in the current year. Days' sales uncollected Complete this question by entering your answers in the tabs below. Required 2A Required 2B For each ratio, determine if it improved or worsened in the current year. Accounts receivable turnover