Required information Exercise 13-9 (Algo) 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 payable Common stock, $10 par value Retained earnings Total liabilities and equity $ 27,947 89,800 114,500 9,000 237, 223 $ 478,470 $ 32,668 $ 34,629 62,900 51,100 85,000 51,000 8,575 3,781 223,331 207,290 $ 412,474 $ 347,200 $ 117,948 89,053 162,500 $ 69,011 $ 45,372 93,920 75,964 162,500 162,500 87,043 63,364 $ 412,474 $ 347,200 108,969 $ 478,470 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 her operating expenses Interest expense Income tax expense Total costs and expenses Net income Earnings per share Current Yr $ 622,011 $ 379,427 192,823 10,574 8,086 590,910 $ 31, 101 1 Yr Ago $ 490,844 $319,049 124,184 11,289 7,363 461,885 $ 28,959 $ 1.91 $ 1.78 Exercise 13-9 (Algo) 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 and correct. Complete this question by entering your answers in the tabs below. Required 1A Required 1B Compute days' sales uncollected. Days' Sales Uncollected Choose Numerator: Choose Denominator: Accounts receivables, net 1 Net sales $ $ 89.8001 IS 622,011 S 62,900 S 490,844 X Days 365 = 365 Days' Sales Uncollected Days' sales uncollected 52.7 days 46.8 days Current Yr: 1 Yr Ago: 365 (1-a) Compute days' sales uncollected. (1-b) For each ratio, determine if it improved or worsened in the current year. Answer is complete and correct. Complete this question by entering your answers in the tabs below. Required 1A Required 1B For each ratio, determine if it improved or worsened in the current year. Days' sales uncollected Worsened (2-a) Compute accounts receivable turnover. (2-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 2A Required 2B For each ratio, determine if it improved or worsened in the current year. Accounts receivable turnover Worsened (3-a) Compute inventory turnover. (3-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 3A Required 3B For each ratio, determine if it improved or worsened in the current year. Inventory turnover (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 4B For each ratio, determine if it improved or worsened in the current year. Days' sales in inventory