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Exercise 13-8 Analyzing and interpreting liquidity LO P3 [The following information applies to the questions displayed below.) Simon Company's year-end balance sheets follow. Current Yr 1 Yr Ago 2 Yrs Ago 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 $ 30,281 89,000 114,500 9,751 269.698 $ 513,230 35,395 $ 36,501 62,200 50,900 83,000 57,000 9,291 4,056 252,554 220,243 $ 442,440 $ 368,700 $ 127,794 $ 74,772 $ 48,668 96,487 162,500 126,449 $ 513,230 101,761 81,483 162,500 162,500 103,407 76,049 $ 442,440 $ 368,700 The company's income statements for the Current Year and 1 Year Ago, follow. Assume that all sales 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 Cost of goods sold Other operating expenses Interest expense Income tax expense Total costs and expenses Net Income Earnings per share Current Yr $ 667,199 $ 406,991 206,832 11,342 8,674 633,839 $ 33,360 1 yr Ago $ 526,504 $ 342,228 133,206 12,110 7,898 495,442 $ 31,062 $ 1.91 $ 2.05 Complete this question by entering your answers in the tabs below. Required 1A Required 18 Compute days' sales uncollected. Days' Sales Uncollected Choose Denominator: Choose Numerator: Days Days' Sales Uncollected Days' Sales Uncollected days days Current Yr: X 1 Yr Ago: X EL Required 18 > Required information TUI CACI TOLIU, UCLEICI I provcu u WUISCICU MIC Currcnil y cai. 14 Complete this question by entering your answers in the tabs below. Required 1A TEKER Required 1B For each ratio, determine if it improved or worsened in the current year. ok Days' sales uncollected ht (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. Accounts receivable turnover Exercise 13-8 Part 3 4 (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 3B For each ratio, determine if it improved or worsened in the current year. ces Inventory turnover Required information (vpro CACIQUU, UCLCRIC III proveu ur WorSERCU TC Current Cai. 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