- Exercises Simon Company's year-end balance sheets follow. Current Yz 1 Yr Ago 2 Yrs ago $ 37,248 89,100 113,500 11.995 573,229 5625, 072 $43,539 S 44, 456 62,000 50,700 82,000 53,000 11, 429 9.990 339, 387 291,504 $ 538.855 $444,600 At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total asets Liabilities and Equity Accounts payable Long-term notes payable secured by mortgages on plant assets Cotton stock, 510 pat value Retained earnings Total liabilities and equity 5257,199 $ 91, 977 559,274 DOM 118.639 162,500 186,651 3625,072 125, 176 99,259 162.500 162,500 159,202 125,5891 $ 538, 5544.600 The company's income statements for the Current Year and 1 Year Ago follow. Assume that all sales are on credit 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 Coat of goods sold Other operating expenses Interest expense Income tax expense Total costs and expenses et incore Earnings per share Current Yr $ 812, 594 $ 495,682 251, 904 13,814 10,564 771, 964 $ 40, 630 5 2.50 1 Y Ago $ 691,237 S 926, 804 162, 233 14, 748 9,619 603, 404 $ 37,833 $ 2.35 of 4 Required 2A Required 20 Compute accounts receivable turnover. Choose Numerator: Net sales $ Accounts Recevable Turnover Choose Denominator Average accounts receivable, not 312.5941 Accounts Receivable Turnover Accounts receivable turnover 0 times times Current Ye: 1 Y ago Required 28 > (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. Required 2A Required 2B For each ratio, determine if it improved or worsened in the current year. SK Accounts receivable turnover nt Complete this question by entering your answers in the tabs below. Required 3A Required 3B For each ratio, determine if it improved or worsened in the current year K Inventory tumover (4-6) For each ratio, determine if it imple 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