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 $ 35,093 89,500 112,500 11,301 346,408 $594,802 $ 41,021 $ 42,303 62,700 -50, 800 83,500 52,000 10,768 4,700 314,771 277,497 $ 512,760 $ 427,300 $148, 106 $ 86,656 $ 56,404 Total assets Liabilities and Equity Accounts payable Long-term notes payable secured by mortgages on plant assets Connon stock, $10 par value Retained earnings Total liabilities and equity 111,823 117,935 94,433 162,500 162,500 162,500 172, 373 145,669 113,963 $594,802 $ 512,760 $ 427,300 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 Net income Current Yr $ 773,243 $ 471,678 239, 705 13,145 10,052 734,580 $ 38,663 1 Yr Ago $ 610,184 $ 396,620 154,377 14,034 9,153 574,184 $ 36,000 Earnings per share $ 2.38 $ 2.22 (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 Choose Numerator: Choose Denominator: Days / X Current Yr: Days' Sales In Inventory Days' sales in inventory 0 days o days 1 X 1 Yr Ago: 1 (Required AA Required 48 >