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please help! will thumbs up! The company's income statements for the current year and one year ago follow. Assume that all sales are on credit:
please help! will thumbs up!
The company's income statements for the current year and one year ago follow. Assume that all sales are on credit: For both the current year and one year ago, compute the following ratios: (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. (2-b) Determine if accounts receivable turnover ratio improbed or worsened in the current year. (3-a) Compute inventory turnover. (3-b) Determine if inventory turnover ratio improved or worsened in the current year. (4-a) Compute days' sales in inventory. (4-b) For each ratio, determine if days' sales in inventory improved or worsened in the current year. Navigation: 1. Use the Open Excel in New Tab button to launch this question. 2. When finished in Excel, use the Save and Return to Assignment button in the lower right to return to Connect. Simon Company's year-end balance sheets follow. \begin{tabular}{lrrr} At December 31 & Current Year & 1 Year Ago & 2. Years Ago \\ Assets & $31,800 & $35,625 & $37,800 \\ Cash & 89,500 & 62,500 & 50,200 \\ Accounts receivable, net & 112,500 & 82,500 & 54,000 \\ Merchandise inventory & 10,700 & 9,375 & 5,000 \\ Prepaid expenses & 278,500 & 255,000 & 230,500 \\ Plant assets, net & $523,000 & $445,000 & $377,500 \\ Total assets & & & \\ Liabilities and Equity & 129,900 & $75,250 & $51,250 \\ Accounts payable & 163,500 & 101,500 & 83,500 \\ Long-term notes payable & 131,100 & 163,500 & 163,500 \\ Common stock, \$10 par value & $523,000 & $445,000 & $377,500 \\ Retained earnings & & & 79,250 \\ \hline Total 1iabilities and equity & & \end{tabular} The company's income statements for the current year anone year ago follow. Assume that all sales are on credit: Clybourd A1. f. Accessibility tab summary: Information about Simon Company is provided in rows 2 to 31 . A statement for student presentation is Step by Step Solution
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