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plz help me with this qn thanks in advance Required information (The following information applies to the questions displayed below.) Simon Company's year-end balance sheets
plz help me with this qn thanks in advance
Required information (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 $ 28,707 89,700 114,000 9,245 259,962 $ 501,614 $ 33,556 $ 35,675 62,700 50,400 83,500 59,000 8,809 3,964 243,861 222,461 $ 432,426 $ 371,500 $ 121, 155 $ 70,888 $ 47,567 91,474 162,500 126,485 $ 501,614 96,474 79,638 162,500 162,500 102,564 81,795 $ 432,426 $ 371,500 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 Current Yr $ 652,098 $ 397,780 202, 150 11,086 1 Yr Ago $ 514,587 $ 334,482 130, 191 11,836 Long-term notes payable secured by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity 91,474 162,500 126,485 $ 501,614 96,474 79,638 162,500 162,500 102,564 81,795 $ 432,426 $ 371,500 The company's income statements for the Current Year and 1 Year Ago, follow. Assume that all sales are on credit: Current Yr $ 652,098 $ 397,780 202,150 For Year Ended December 31 Sales Cost of goods sold Other operating expenses Interest expense Income tax expense Total costs and expenses Net income 11,086 1 Yr Ago $ 514,587 $ 334,482 130, 191 11,836 7,719 484, 228 $ 30,359 $ 1.87 8,477 $ 619,493 32,605 2.01 Earnings per share $ 1-a) Compute days' sales uncollected. 1-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 1A Required 1BStep by Step Solution
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