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 $ 31,953 89,200 110,500 10,290 310.679 $552,622 $ 37,350 $ 39, 303 62,900 51.900 84,000 55,000 9.804 4.367 282,344 254,530 $ 476,398 $ 405,100 $134,851 $ 78,901 $ 52,404 101,815 162,500 153,456 $552,622 107,380 87,737 162,500 162,500 127,617 102,459 $ 476,398 $ 405,100 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 Current Yr $ 718,409 $ 438, 229 222,707 12,213 9.339 682,488 $ 35,921 2.21 1 Yr Ago $ 566,914 $ 368, 494 143,429 13,039 8,504 533,466 s 33.448 Earnings per share $ 2.06 (1-a) Compute days' sales uncollected. (1-b) For each ratio, determine if it improved or worsened in the current year. Compute days' sales uncollected. Days' Sales Uncollected 1 Choose Denominator: Choose Numerator: x Days - = Days' Sales Uncollected Days' Sales Uncollected o days o days Current Yr: 1 Yr Ago: (2-a) Compute accounts receivable turnover. (2-b) For each ratio, determine if it improved or worsened in the current year. Required 2A Required 28 Compute accounts receivable turnover. Accounts Receivable Turnover 7 Choose Denominator: Choose Numerator: = Accounts Receivable Turnover Accounts receivable turnover times Current Yr: 1 Yr Ago: times (3-a) Compute inventory turnover. (3-b) For each ratio, determine if it improved or worsened in the current year. Required 3A Required 3B Compute inventory turnover. Inventory Turnover Choose Numerator: 7 Choose Denominator: = Inventory Turnover Inventory turnover times Current Yr: 1 Yr Ago: times (4-a) Compute days' sales in inventory (4-6) For each ratio, determine if it improved or worsened in the current year Required 4A Required 48 Compute days' sales in inventory Days' Sales In Inventory Choose Denominator: Choose Numerator: 7 Days - Days' Sales In Inventory Days' sales in inventory Current Yr: 1 Yr Ago: days