! Required information [The following information applies to the questions displayed below.] Simon Company's year-end balance sheets follow. At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable $ 507,677 $ 122,619 Long-term notes payable Common stock, $10 par value Retained earnings 162,500 125,206 Total liabilities and equity $ 507,677 Current Year 1 Year Ago 2 Years Ago $ 30,552 $ 34,312 85,077 108,059 9,742 274,247 97,352 60,659 79,346 9,191 254,145 $ 437,653 $ 36,464 48,619 50,763 3,932 221,322 $ 361,100 $ 48,142 79,005 162,500 71,453 $ 361,100 $ 75,443 101,667 162,500 98,043 $ 437,653 For both the current year and one year ago, compute the following ratios: 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 Other operating expenses Interest expense Income tax expense Total costs and expenses Net income Current Year 1 Year Ago $ 659,980 $ 520,807 $ 402,588 204,594 $ 338,525 131,764 11,979 7,812 11,220 8,580 626,982 $ 32,998 490,080 $ 30,727 $ 1.89 Earnings per share (1-a) Compute days' sales uncollected. $ 2.03 (1-b) Determine if days' sales uncollected improved or worsened in the current year. (2-a) Compute accounts receivable turnover. (2-b) Determine if accounts receivable turnover ratio improved or worsened in the current year. (3-a) Compute inventory turnover. (3-b) Determine if inventory turnover ratio improved or worsened in the current year. (4-a) Compute days' sales in inventory. (4-b) For each ratio, determine if days' sales in inventory improved or worsened in the current year. Complete this question by entering your answers in the tabs below. Required 1A Required 1B Required 2A Required 2B Required 3A Required 3B Required 4A Required 4B Compute days' sales uncollected. Current Year: 1 Year Ago: Numerator: 1 1 Days' Sales Uncollected Denominator: Days = = < Required 1A Required 1B > Days' Sales Uncollected Days' sales uncollected 0 days = 0 days Complete this question by entering your answers in the tabs below. Required 1A Required 1B Required 2A Required 2B Required 3A Required 3B Required 4A Required 4B Determine if days' sales uncollected improved or worsened in the current year. Days' sales uncollected < Required 1A Required 2A > Complete this question by entering your answers in the tabs below. Required 1A Required 1B Required 2A Required 2B Required 3A Required 3B Required 4A Required 4B Compute accounts receivable turnover. Note: Round your answers to the nearest whole number. Current Year: 1 Year Ago: Numerator: Accounts Receivable Turnover Denominator: = Accounts Receivable Turnover Accounts receivable turnover = < Required 1B Required 2B > 0 times 0 times Complete this question by entering your answers in the tabs below. Required 4A Required 4B Required 1A Required 1B Required 2A Required 2B Required 3A Required 3B Determine if accounts receivable turnover ratio improved or worsened in the current year. Accounts receivable turnover < Required 2A Required 3A > Required 1A Required 1B Required 2A Required 2B Required 3A Required 3B Required 4A Required 4B Compute inventory turnover. Note: Round your answers to the nearest whole number. Current Year: 1 Year Ago: Inventory Turnover Numerator: Denominator: = Inventory Turnover = Inventory turnover = 0 times = 0 times < Required 2B Required 3B > Required 1A Required 1B Required 2A Required 2B Required 3A Required 3B Required 4A Required 4B Determine if inventory turnover ratio improved or worsened in the current year. Inventory turnover < Required 3A Required 4A > Required 1A Required 1B Required 2A Required 2B Required 3A Required 3B Required 4A Required 4B Compute days' sales in inventory. Days' Sales In Inventory. Numerator: Denominator: Days = Days' Sales In Inventory = Days' sales in inventory Current Year: 1 Year Ago: = 0 days = 0 days < Required 3B Required 4B > Required 1A Required 1B Required 2A Required 2B Required 3A Required 3B Required 4A Required 4B For each ratio, determine if days' sales in inventory improved or worsened in the current year. Days' sales in inventory < Required 4A Required 4B >