! 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 Common stock, $10 par value Retained earnings Total liabilities and equity $ 31,800 89,500 112,500 10,700 278,500 $ 523,000 $ 35,625 $ 37,800 62,500 50,200 82,500 54,000 9,375 5,000 255,000 230,500 $ 445,000 $ 377,500 $ 129,900 $ 75,250 $ 51,250 98,500 101,500 83,500 163,500 163,500 163,500 131, 100 104,750 79,250 $ 523,000 $445,000 $ 377,500 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 Current Yr 1 Yr Ago Sales $673,500 $532,000 Cost of goods sold $411,225 $345,500 Other operating expenses 209,550 134,980 Interest expense 12,100 13,300 Income tax expense 9,525 8,845 Total costs and expenses 642,400 502,625 Net income $ 31,100 $ 29,375 Earnings per share 1.90 1.80 $ $ $ 1.80 (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 38 Compute Inventory turnover. Choose Numerator: Inventory Turnover Choose Denominator: - Current Yr: 1 Inventory Turnover Inventory turnover times times 1 Yr Ago: Regulad na Required 30 > 1.80 (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 For each ratio, determine if it improved or worsened in the current year. Inventory turnover Saved Helg COST O goods 5010 Other operating expenses Interest expense Income tax expense Total costs and expenses Net income Earnings per share 11,225 209,550 12,100 9,525 45,500 134,980 13,300 8,845 642,400 $ 31,100 $ 1.90 502,625 $ 29,375 $ 1.80 (4-a) Compute days' sales in inventory (4-6) 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 4A Required 48 For each ratlo, determine if it improved or worsened in the current year. Days' sales in inventory Required 4A