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Current Yr 1 Yr Ago 2 Yrs ago Simon Company's year-end balance sheets follow. At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid

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Current Yr 1 Yr Ago 2 Yrs ago 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 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 $ 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 Cost 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 642,400 502.623 Net income $ 31,100 $ 29,375 $ 1.90 9 Earnings per share 1.80 (3-a) Compute inventory turnover. (3-6) 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 3A Required 38 Compute inventory turnover. Choose Numerator: Inventory Turnover 1 Choose Denominator: 1 Inventory Turnover Inventory turnover 0 times 0 times 1 Current Yr: 1 Yr Ago: 1 Reque DA Required 3B > (4-a) Compute days' sales in inventory (4-6) 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 48 Compute days' sales in Inventory. Days! Sales In Inventory Choose Numerator: Choose Denominator: X Days X Days' Sales In Inventory Days' sales In Inventory o days o days X Current Yr: 1 Yr Ago: 1 x = Required Required 48

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