How Do I Calculate?

Required information [The following information applies to the questions displayed below.] Simon Company's year-end balance sheets follow. At December 31 Current Yr 1 Yr Ago 2 Yrs Ago Assets Cash $ 26,388 $ 30, 845 5 $ 31,809 Accounts receivable, net 90, 000 62,800 50,300 Merchandise inventory 110,500 82 , 500 51, 000 Prepaid expenses 8 , 498 8, 097 3,534 Plant assets, net 211 , 864 201, 318 184, 657 Total assets $447 , 250 $ 385, 560 $ 321, 300 Liabilities and Equity Accounts payable $111, 365 65,160 $ 42, 412 Long-term notes payable secured by mortgages on plant assets 84, 083 88 , 679 71, 007 Common stock, $10 par value 162,500 162,500 162,500 Retained earnings 89 , 302 69,221 45, 381 Total liabilities and equity $447 , 250 $ 385 , 560 $ 321, 300 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 $ 581, 425 $ 458 , 816 Cost of goods sold $ 354, 669 $ 298, 230 Other operating expenses 180 , 242 116, 080 Interest expense 9, 884 10,553 Income tax expense 7,559 6, 882 Total costs and expenses 552 , 354 431, 745 Net income $ 29, 071 $ 27, 071 Earnings per share 1. 79 1. 67 (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 Compute accounts receivable turnover. Accounts Receivable Turnover Choose Numerator: / Choose Denominator: = Accounts Receivable Turnover Accounts receivable turnover Current Yr: 0 times 1 Yr Ago 0 times Required 2A Required 2B