JILIUL LUIpuiny ycuicuu wulu ILE JUICEL IUIIUVY. 9 Current Yr 1 Yr Ago 2 Yrs Ago Part 4 of 4 pant are 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 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 0.5 points $ 129,900 98,500 163,500 131,100 $ 523,000 $ 75,250 101,500 163,500 104,750 $ 445,000 $ 51,250 83,500 163,500 79,250 $ 377,500 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 Sales Cost of goods sold Other operating expenses Interest expense Income tax expense Total costs and expenses Net income Current Yr $ 673,500 $411,225 209,550 12,100 9,525 642,400 $ 31,100 1 Yr Ago $ 532,000 $ 345,500 134,980 13,300 8,845 502,625 $ 29, 375 $ 1.80 Earnings per share $ 1.90 (4-a) Compute days' sales in inventory. (4-b) For each ratio, determine if it improved or worsened in the current year. Net income 31,100 29,375 1.80 Earnings per share $ 1.90 $ Part 1 of 4 0.25 (1-a) Compute days' sales uncollected. (1-b) For each ratio, determine if it improved or worsened in the current year. points Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1A Required 1B Compute days' sales uncollected. Days' Sales Uncollected Choose Denominator: X Days Net sales = Choose Numerator: 1 Average accounts receivable, net x / $ 76,000 X $ 56,350 X 1 Days' Sales Uncollected Days' sales uncollected days days $ = Current Yr: 1 Yr Ago: 673,500X 532,000 $ = Required 1A Required 1B > parta ora Part 4 of 4 (4-a) Compute days' sales in inventory. (4-b) For each ratio, determine if it improved or worsened in the current year. 0.5 points 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 Choose Numerator: 1 Choose Denominator: Days Ending inventory Cost of goods sold X 365 Days' Sales In Inventory Days' sales in inventory 86.5 days 72.1 days $ 365 = Current Yr: 1 Yr Ago: $ $ 97,500 1 68,250 1 411,225 x 345,500X $ 365