! 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 $ 36,071 89,900 112,500 11,616 361,279 $611,366 $ 42,163 $ 43,481 62,200 51, 100 84,500 59,000 11,068 4,831 327, 109 280, 788 $ 527,040 $ 439,200 $152, 230 $ 89,070 $ 57,974 162,500 114,937 162,500 181,699 $611,366 121,219 97,063 162,500 154,251 121, 663 $ 527,040 $ 439,200 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 794,776 $ 484,813 246,381 13,511 10,332 755, 037 $ 39,739 $ 2.45 1 Yr Ago $ 627,178 $ 407,666 158,676 14,425 9,408 590, 175 $ $ 37,003 Earnings per share $ 2.28 (3-a) Compute inventory turnover. (3-6) 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 Compute inventory turnover. Inventory Turnover 1 Choose Denominator: Choose Numerator: Inventory Turnover / Inventory turnover Current Yr: / = times 1 Yr Ago: 1 times