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. 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 payablo secured by mortgages on plant assets Common stock, $10 par value Retained earningo Total liabilities and equity $ 31,800 89,500 112,500 10,700 278,500 $ 523,000 $ 35,625 $ 37,800 62,500 50,200 82,500 54,000 9,375 5,000 255,000 230,500 $ 445,000 $ 377,500 $ 129,900 $ 75,250 $ 51,250 98,500 163,500 131, 100 $ 523,000 101,500 83,500 163,500 163,500 104,750 79,250 $ 445,000 $377,500 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 Income tax expense Total costs and expenses Current Yr $673,500 $ 411,225 209,550 12,100 9.525 642,400 1 Yr Ago $ 532,000 $345,500 134,980 13,300 B,845 502,625 Co The company's income statements for the Current Year and 1 Year Ago, follow. Assume that all sales are on credit: Por Year Ended December 31 Sales Cost of goods sold Other operating expenses Interest expense Income tax expense Total costs and expenses Net incom Earnings per share 1 yr ago $532,000 $345,500 134,980 13,300 Current Yr $673,500 5411,225 209,550 12,100 9.525 642,400 $ 31,100 $ 1.90 502,625 $ 29,375 $ 1.80 21 Exercise 13-8 Part 1 (1-a) Compute days' sales uncollected (1-6) For each ratio, determine if it improved or worsened in the current year. Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required 1A Required 18 Compute days sales uncollected Days Sales Uncollected MacBook Pro Exercise 13-8 Part 1 (1-a) Compute days' sales uncollected. (1-b) For each ratio, determine if it improved or worsened in the current year. Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required 1A Required 18 Compute days' sales uncollected. Days' Sales Uncollected Choose Denominator: Days Choose Numerator: Cost of goods sold $ s 17 X 30 Current Yr 1 Yr Ago: Days Sales Uncollected Days' Sales Uncollected 1,539.5 days 1,847.7 days Average accounts receivable. net $ 97,500 $ 68.250 411,225 345,500 3 X 30 30 X Ronu 1 Required 18 )