Required information Exercise 13-8 Analyzing and interpreting liquidity LO P3 The following information applies to the questions displayed below) Simon Company's year-end balance sheets follow. At December Current IT st Cash $ 11,040 16.00 17,046 Accounts receivable, $2,200 50,000 Merchandise etery 112.500 M4,000 4,000 Prepaid expenses 5,996 9.524 4,116 Plant annet net 278,231 237,019 225,331 Total area $520,93 349.046 110.500 Liabilities and it Accounts payable 1030.99 Long-term as myable cured by On plant 104,313 Common stock, 110 par vale 163,500 162,500 103,500 Rated RA 120,47 101.505 75.906 Total 1 and equity 6520.033 449,048 270,100 19.100 The company's income statements for the Current Year and 1 Year Ago follow. Assume that all sales are on credit: For Year Ended Decenie Current Sales 677.161 Cost of good sold 5413,00 $530,15 3147,337 other operating expenses 209.920 135.194 There 11.512 12,200 Income taxe BAD BOIS Total costs and expense 6303 Net Income 33,00 331.529 Ramning per where 13-a) Compute inventory tumover ab For each ritio, determine fit improved or worsuned in the current you. Complete this question by entering your answers in the tabs below. Required required Compute Inventory tumover ny Term Cheese Choose Damer Current 1 WA (3-a) Compute Inventory turnover. 3-b) For each ratio, determine if improved or worsened in the current yeat Complete this question by entering your answers in the tabs below. Required A Reuired For each ratio, determine improved or worsened in the current year