! Required information [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 secured by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity $ 27,932 89,500 113,000 8,995 229,307 $ 468,734 $ 32,650 $ 33,337 62,800 50,100 83,500 54,000 8,571 3,704 216,560 192,259 $ 404,081 $ 333,400 $ 117,882 68,973 $ 44,449 89,003 162,500 99,349 $ 468,734 93,868 162,500 78,740 $ 404,081 74,418 162,500 52,033 $ 333,400 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 Earnings per share Current Yr $ 609,354 $ 371,706 188,900 10,359 7,922 578,887 $ 30,467 $ 1.87 1 Yr Ago $ 480,856 $ 312,556 121,657 11,060 7,213 452,486 $ 28,370 $ 1.75 (1-a) Compute days' sales uncollected (1-b) For each ratio, determine if it improved or worsened in the current year. Required information [The following information applies to the questions displayed below.] Simon Company's year-end balance sheets follow. Current Yr At December 31 Assets 1 Yr Ago 2 Yrs Ago Cash $ 27,932 89,500 113,000 8,995 229,307 $ 468,734 $ 32,650 $ 33,337 62,800 50,100 83,500 54,000 8,571 3,704 216,560 192,259 $ 404,081 $ 333,400 Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable Long-term notes payable secured by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity $ 117,882 $ 68,973 $ 44,449 89,003 162,500 99,349 $ 468,734 93,868 74,418 162,500 162,500 78,740 52,033 $ 404,081 $ 333,400 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 Earnings per share Current Yr $ 609,354 $ 371,706 188,900 10,359 7,922 578,887 $ 30,467 1 Yr Ago $ 480,856 $ 312,556 121,657 11,060 7,213 452,486 $ 28,370 $ 1.87 $ 1.75 (2-a) Compute accounts receivable turnover. (2-b) For each ratio, determine if it improved or worsened in the current year. Required information [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 secured by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity $ 27,932 89,500 113,000 8,995 229,307 $ 468,734 32,650 $ 62,800 83,500 8,571 216,560 404,081 33,337 50,100 54,000 3,704 192,259 333,400 $ 117,882 $ 68,973 $ 44,449 89,003 162,500 99,349 $ 468,734 93,868 162,500 78,740 404,081 74,418 162,500 52,033 333,400 The company's income statements for the Current Year and 1 Year Ago, follow. Assume that all sales are on credit: or Year Ended Dec 31 Sales Cost of goods sold Other operating expenses Interest expense Income tax expense Total costs and expenses Net income Earnings per share Currer $ 609,354 $ 371,706 188,900 10,359 7,922 578,887 30,467 1.87 1 Yr Ago $ 480,856 $ 312,556 121,657 11,060 7,213 452,486 $ 28,370 $ 1.75 (3-a) Compute inventory turnover. (3-b) For each ratio, determine if it improved or worsened in the current year. Required information (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 secured by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity $ 27,932 89,500 113,000 8,995 229,307 $ 468,734 $ 32,650 $ 33,337 62,800 50, 100 83,500 54,000 8,571 3,704 216,560 192,259 $ 404,081 $ 333,400 $ 117,882 $ 68,973 $ 44,449 89,003 162,500 99,349 $ 468,734 93,868 74,418 162,500 162,500 78,740 52,033 $ 404,081 $333,400 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 Earnings per share Current Yr $ 609,354 $ 371,706 188,900 10,359 7,922 578,887 $ 30,467 1 Yr Ago $ 480,856 $ 312,556 121,657 11,060 7,213 452,486 $ 28,370 $ 1.87 $ 1.75 (4-a) Compute days' sales in inventory. (4-6) For each ratio, determine if it improved or worsened in the current year