Required information [The following information applies to the questions displayed below.) Simon Company's year-end balance sheets follow. At December 31 Current Yr 1 Yr Ago 2 Yrs Ago Assets Cash $ 30,769 $ 35,966 $ 36, 363 Accounts receivable, net 89,400 62,400 51,300 Merchandise inventory 113,000 84,500 58,000 Prepaid expenses 9,909 9, 441 4,040 Plant assets, net 268, 206 248, 455 210, 397 Total assets $511,284 $440,762 $360,100 Liabilities and Equity Accounts payable $129,856 $ 75,979 $ 48, 484 Long-term notes payable secured by mortgages on plant assets 98,044 103, 403 81, 174 Common stock, $10 par value 162,500 162,500 162,500 Retained earnings 120,884 98,880 67,942 Total liabilities and equity $511,284 $440,762 $360,100 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 Current Yr 31 Sales $664,669 Cost of goods sold $405,448 Other operating 206,047 expenses Interest expense 11,299 Income tax expense 8,641 Total costs and expenses 631,435 Net income $ 33, 234 Earnings per share $ 2.05 1 Yr Ago $524,507 $340,930 132,700 12,064 7,868 493,562 $ 30,945 $ 1.90 (1-a) Compute days' sales uncollected. (1-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 Required 1A 1B Compute days' sales uncollected. Days' Sales Uncollected Choose Numerator: I Choose Denominator: x Days 1 X Days' Sales Uncollected Days' Sales Uncollected days days 1 Current Yr: 1 Yr Ago: Required 1A Required 1B > Required information [The following information applies to the questions displayed below.) Simon Company's year-end balance sheets follow. At December 31 Current Yr 1 Yr Ago 2 Yrs Ago Assets Cash $ 30,769 $ 35,966 $ 36, 363 Accounts receivable, net 89,400 62,400 51,300 Merchandise inventory 113,000 84,500 58,000 Prepaid expenses 9,909 9, 441 4,040 Plant assets, net 268, 206 248, 455 210,397 Total assets $511,284 $440,762 $360, 100 Liabilities and Equity Accounts payable $129,856 $ 75,979 $ 48, 484 Long-term notes payable secured by mortgages on plant assets 98,044 103, 403 81, 174 Common stock, $10 par value 162,500 162,500 162,500 Retained earnings 120,884 98,880 67,942 Total liabilities and equity $511,284 $440,762 $360, 100 The company's income statements for the Current Year and 1 Year Ago, follow. Assume that all sales are on credit: 1 Yr Ago $524,507 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 $664,669 $405, 448 206,047 11,299 8,641 631,435 $ 33, 234 2.05 $340,930 132,700 12,064 7,868 493,562 $ 30,945 $ 1.90 S (1-a) Compute days' sales uncollected. (1-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 Required 1A 1B For each ratio, determine if it improved or worsened in the current year. Days' sales uncollected
