omework Saved Help Save & Exit Submit Simon Company's year-end balance sheets follow. Current Year 1 Year Age 2 Years Ago At December 31 Asse 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 $ 38,987 89,300 111,080 9,979 283,936 $ 525,202 $ 36,221 62,50e 83,000 9, 508 261,531 $452,760 $ 37,353 $1,700 58,000 4,150 226,097 $ 377, 300 $ 130,775 98,738 162,500 13, 189 $ 525, 202 $ 76,516 184,135 162, see 109,609 $ 452.760 $ 49,804 83,389 162,500 81,613 $ 377,300 The company's income statements for the current year and one year ago follow. Assume that all sales are on Credit: of 7 Next > teening Commtog Skilled notes A Demographies A Schedule A Med Proie Achent learning Center ar 17 Homework Help Save & Exit The company's income statements for the current year and one year ago follow. Assume that all sales are on credit: Seved Submit 5. Current Year $ 682,762 5.416,415 211,657 11,602 3 of 4 or Year Ended December 31 Sales Cost of goods sola Other operating expenses Interest expense Income tax expense Total costs and expenses Net income Earnings per share 1 Year Ago $ 538,784 $ 350,210 1:36,112 12,392 8,082 505, $ 31,788 $ 1.96 3.876 648,625 $ 34138 $.2.10 Pit (3-a) Compute Inventory turnover, (3-b) For each ratio determine if it improved or worsened in the current year, 6 * aw 11 PM monework 1 Savod Help Save & Exit Submit Required information 5. Complete this question by entering your answers in the tabs below. of 4 Required 3A Required 38 Compute inventory turnover Inventory Turnover 1 Denominator Numerator: Inventory Turnover Inventory turnover times times Current Year: 1 Year Ago: w EH PM 112022 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 Inventory turnover 8:17 PM 1/24/2002