ew History Bookmarks Window Help ezto.mheducation.com C U Ly Homework: Financial Statement Analysis Assignment M Question 9 - Homework: Financial Statement Analysis. ncial Statement Analysis Assignment i Saved Check my work mode : This shows what is correct or incorrect for the work you have completed so far. It does not At December 31 Current Year 1 Year Ago 2 Years Ago Assets Cash $ 33, 273 $ 38, 893 $ 39, 322 Accounts receivable, net 89 , 300 62, 700 51, 200 Merchandise inventory 110, 500 , 500 57,000 Prepaid expenses 10, 715 10, 209 4, 369 Plant assets, net 309, 098 280, 324 237,509 Total assets $ 552, 886 $ 476, 626 $ 389, 400 Liabilities and Equity Accounts payable $ 140, 422 $ 82, 161 $ 52, 429 Long-term notes payable 106, 021 111, 816 87, 779 Common stock, $10 par value 2.500 162, 500 162, 500 Retained earnings 143, 943 120, 149 86, 692 Total liabilities and equity $ 552, 886 $ 476, 626 $ 389, 400 The company’s income statements for the current year and one year ago follow. Assume that all sales are on credit: For Year Ended December 31 Current Year 1 Year Ago Sales $ 718, 752 $ 567, 185 Cost of goods sold $ 438, 1439 $ 368, 670 Other operating expenses 222, 813 143, 498 Interest expense 12, 219 13, 045 Income tax expense 9 , 344 8 , 508 Total costs and expenses 682, 815 533, 721 Net income $ 35, 937 $ 33, 464 Earnings per share $ 2.21 $ 2.06 OCT 4 1 24 atv I MacBook Air DII DD 20 F5 F6 F7 F8 F9 F2 F3 F4View History Bookmarks Window Help EB ezto.mheducation.com C I myLU Lu Homework: Financial Statement Analysis Assignment M Question 9 - Homework: Financial Statement Analysis. Financial Statement Analysis Assignment i Saved Check my work mode : This shows what is correct or incorrect for the work you have completed so far. It does not indicate c ! Required information (4-a) Compute days' sales in inventory. (4-b) For each ratio, determine if it improved or worsened in the current year. x Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required 4A Required 4B Compute days' sales in inventory. Days' Sales In Inventory. Days' Sales In Numerator: Denominator: x Days Inventory Average x Days' sales in X Cost of goods sold 365 = inventory inventory Current Year: $ 97,500 X / S 438,439 V X 365 1I 81.2 days 1 Year Ago: 70,750 X / 368,670 x 365 70.0 days 2 OCT 24 atv 4 C MacBook Air DIT DD 20 808 F6 F7 F8 F9 F3 F4 F5 A & # 8 O N 4 5 6