Required information Exercise 13-8 (Algo) Analyzing and interpreting liquidity LO P3 [Alternate Version] [The following information applies to the questions displayed below.] Simon Company's year-end balance sheets follow. At December 31. Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Current Year 1 Year Ago 2 Years Ago $ 27,416 89,200 $ 32,047 62,500 $ 469,374 Accounts payable $ 115,705 Long-term notes payable Common stock, $10 par value Retained earnings Total liabilities and equity 115,000 8,829 228,929 87,360 162,500 103,809 $ 469,374 83,500 8,412 218,174 $ 404,633 $ 67,699 92,135 162,500 82,299 $ 404,633 $ 33,382 51,200 53,000 3,709 199,309 $ 340,600 $ 44,510 74,520 162,500 59,070 $ 340,600 The company's income statements for the current year and one year ago follow. Assume that all sales are on credit: For Year Ended December 31 Sales Cost of goods sold Interest expense Income tax expense Other operating expenses Total costs and expenses Net income Earnings per share. Current Year $ 610,186 $ 372,213 189,158 1 Year Ago $ 481,513 10,373 7,932 579,676 $ 30,510 $ 1.88 $ 312,983 121,823 11,075 7,223 453,104. $ 28,409 $ 1.75 Exercise 13-8 (Algo) Part 2 [Alternate Version] (2-a) Compute accounts receivable turnover. (2-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 2A Required 2B Compute accounts receivable turnover. Current Year: 1 Year Ago: Accounts Receivable Turnover Numerator: Denominator: Accounts Receivable Turnover Accounts receivable turnover times times