Required information Exercise 13-8 (Static) 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 Current Year 1 Year Ago 2 Years Ago Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable $ 31,800 89,500 112,500 10,700 278,500 $ 523,000 $ 129,900 Long-term notes payable Common stock, $10 par value Retained earnings Total liabilities and equity 98,500 163,500 131,100 $ 523,000 $ 35,625 62,500 82,500 9,375 255,000 $ 445,000 $ 75,250 101,500 163,500 104,750 $ 445,000 $ 37,800 50,200 54,000 5,000 230,500 $ 377,500 $ 51,250 83,500 163,500 79,250 $ 377,500 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 Other operating expenses Income tax expense Total costs and expenses Net income Current Year $ 673,500 $ 411,225 209,550 12,100 9,525 1 Year Ago $ 532,000 642,400 $ 31,100 $ 345,500 134,980 13,300 8,845 502,625 $ 29,375 Earnings per share $ 1.90 Exercise 13-8 (Static) Part 1 [Alternate Version] (1-a) Compute days' sales uncollected. (1-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 1A Required 1B Compute days' sales uncollected. Current Year: 1 Year Ago: $ 1.80 Days' Sales Uncollected Numerator: Denominator: X Days Days' Sales Uncollected = Days' sales uncollected 0 days 0 days < Required 1A Required 1B >