! 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 Long-term notes payable Current Year 1 Year Ago 2 Years Ago $ 31,671 62,100 $ 27,094 89,200 113,500 8,725 225,343 86,334 $ 463,862 $ 114,347 Common stock, $10 par value Retained earnings Total liabilities and equity 162,500 100,681 $ 463,862 83,000 8,314 214,796 $ 399,881 $ 66,904 91,053 162,500 79,424 $ 399,881 $ 32,990 50,700 50,000 3,666 199,244 $ 336,600 $ 43,987 73,645 162,500 56,468 $ 336,600 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 Earnings per share Current Year $ 603,021 $ 367,843 186,937 10,251 7,839 1 Year Ago $ 475,858 $ 30,151 $ 1.86 $ 309,308 120,392 10,945 7,138 447,783 $ 28,075 $ 1.73 572,870 (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 Compute days' sales in inventory. Current Year: 1 Year Ago: Days' Sales In Inventory Numerator: Denominator: x Days = Days' Sales In Inventory = Days' sales in inventory < Required 4A = 0 days 0 days Required 4B >