question 8 ethics assignment

8 Part 4 of 4 214 points Skipped eBook Print References Simon Company's year-end balance sheets follow. At December 31 Current Year 1 Year Ago 2 Years Ago Assets Cash $ 36,733 $ 37,506 $ 31,425 89,500 111,000 62,300 Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net 50,900 84,000 $3,000 4,167 10,120 285,315 9,643 261,945 229,527 Total assets $ 527,360 $ 454,621 $ 375,100 Liabilities and Equity Accounts payable $ 132,626 $ 50,000 Long-term notes payable $ 77,599 105,608 83,726 Common stock, $10 par value 100,135 162,500 132,099 162,500 Retained earnings t 162,500 108,914 78,866 Total liabilities and equity $ 527,360 5 454,621 $ 375,100 The company's income statements for the current year and one year ago follow, Assume that all sales are on credit Current Year 1 Year Ago For Year Ended December 31 Sales $ 685,568 $ 540,999 cost of goods sold 3 418,196 $ 151,649 Other operating expenses 212,526 136,873 12,443 Interest expense 11,655 Income tax expense 8.912 8,115 Total costs and expenses 651,289 $ 34,279 5e9,00 $ 31,910 Net income $ 2.11 $ 1.96 Larnings per share (4-0) Compute days' sales in inventory. (4-b) For each ratio, determine if It Improved or worsened in the current year. Part 4 of 4 points Skipped Book References Income tax expense 8,912 Total costs and expenses Net Income 651,289 $ 34,279 Earnings per share $ 2.11 (4-a) Compute days' sales In Inventory. (4-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 4A Required 48 Compute days' sales in inventory. Days Sales In Inventory Numerator: Denominator Days Current Yr 1 Yr Ago Required 48 > 12,441 8,115 . 11 509,000 $ 31,919 1 1.96 Days Sales In Inventory Days sales in inventory days days 2.14 points Skipped eBook Print References sarnings per share 3 2.11 (4-a) Compute days' sales In Inventory. (4-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 4A Required 48 For each ratio, determine if it improved or worsened in the current year. Days sales in inventory