nework i ices 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 For Year Ended December 31 Sales Cost of goods sold Other operating expenses Current Year Interest expense Income tax expense Total costs and expenses Net income Earnings per share $ 26,567 73,950 95,853 8,725 240,735 $ 445,830 $ 113,232 83,816 162,500 86,282 $ 445,830 $ 353,543 179,669 9,853 7,535 For both the current year and one year ago, compute the following ratios: Current Year 1 Year Ago $ 579,579 $ 30,747 54,883 73,235 8,071 217,400 $384,336 The company's income statements for the current year and one year ago follow. Assume that all sales are on credit: 550,600 $ 28,979 $ 1.78 $ 63,654 85,745 162,500 72,437 $384,336 Saved 2 Years Ago $ 297,284 115,712 10,519 6,860 $ 31,086 40,619 44,142 3,489 194,664 $314,000 U $ 40,619 68,700 163,500 41,181 $ 314,000 1 Year Ago $ 457,360 430,375 $ 26,985 $ 1.66 (1-a) Compute days' sales uncollected. (1-b) Determine if days' sales uncollected improved or worsened in the current year. (2-a) Compute accounts receivable turnover. FOCUS 12 20213426 T. -32 E

For both the current year and one year ago, compute the following ratios: The company's income statements for the current year and one year ago follow. Assume that all sales are on credit: (1-a) Compute days' sales uncollected (1-b) Determine if days' sales uncollected improved or worsened in the current year (1) Required informotion (1-a) conpute vays sats untunected (1-b) Determine if days' sales uncollected improved or worsened in the current year. (2-a) Compute accounts tecelvable tumover. (2-b) Determine if accounts recelvable tumover ratio improved or worsened in the current year. (3-a) Compute inventory turnover (3-b) Determine if inventory tumover ratio improved or worsened in the current year (4-e) Compute daye soles in inventery. (4-b) For each ratio, determine if days' sales in imventory improved or worsened in the current year. Complete this question by entering your answers in the tabs below. Compute days' salus uncollected