Required information [The following information applies to the questions displayed below.)] Simon Company's year-end balance sheets follow. At December 31 Assets Cash Current Year 1 Year Ago 2 Years Ago $ 25,570 74,845 $ 29,594 91,335 52,824 69,119 $ 31,148 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 7,990 229,366 $ 429,106 $108,984 83,092 162,500 74,530 $ 429,106 7,846) 210,536 $369,919 $ 61,266 84,231 162,500 61,922 $ 369,919 For both the current year and one year ago, compute the following ratios: 41,530 46,030 3,426 195,666 $ 317,800 $ 41,530 72,341 163,500 40,429 $ 317,800 The company's income statements for the current year and one year ago follow. Assume that all sales are on credit: 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 (1-a) Compute days' sales uncollected. Current Year $ 340,281 172,930 9,483 7,252 1 Year Ago $ 557,838 $ 440,204 $ 286,133 111,372 10,125 6,603 529,946 414,233 $ 25,971 $ 27,892 $ 1.72 (1-b) Determine if days' sales uncollected improved or worsened in the current year. (2-a) Compute accounts receivable turnover. $ 1.60 (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 28 Required 3A Required 3B1 Required 4A Required 48 Compute days' sales uncollected. Current Year: 1 Year Ago: Days' Sales Uncollected Numerator: Denominator: x Days x Days' Sales Uncollected Days' sales uncollected days days Complete this question by entering your answers in the tabs below. Required 1A Required 1B Required 2A Required 2B Required 3A Required 38 Determine if days' sales uncollected improved or worsened in the current year. Days' sales uncollected Required 4A Required 4B Complete this question by entering your answers in the tabs below. Required 1A Required 18 Required 2A Required 2B Required 3A Compute accounts receivable turnover. Note: Round your answers to the nearest whole number. Current Year: 1 Year Ago: Numerator: Required 38 Required 4A Required 48 Accounts Receivable Turnover Denominator. Accounts Receivable Turnover 1 Accounts receivable turnover times times Complete this question by entering your answers in the tabs below. Required 4A Required 1A Required 18 Required 2A Required 2B Required 3A Required 38 Determine if accounts receivable turnover ratio improved or worsened in the current year. Accounts receivable turnover Required 48 < Required 2A Required 3A > Complete this question by entering your answers in the tabs below. Required 1A Required 1B Required 2A Required 28 Required 3A Compute inventory turnover. Note: Round your answers to the nearest whole number. Current Year: 1 Year Ago: Required 38 Required 4A Required 48 Inventory Turnover Numerator: Denominator: Inventory Turnover Inventory turnover times times Complete this question by entering your answers in the tabs below. Required 1A Required 18 Required 2A Required 28 Required 3A Required 38 Determine if inventory turnover ratio improved or worsened in the current year. Inventory turnover Required 4A Required 48 Complete this question by entering your answers in the tabs below. Required 1A Required 18 Required 2A Required 2B Required 3A Required 3B Required 4A Required 48 Compute days' sales in inventory. Current Year: 1 Year Ago: Numerator: 1 1 Days' Sales In Inventory Denominator: Days Days' Sales In Inventory Days' sales in inventory K days days Required LA Required 18 Required 2A Required 2B Required 3A Required 38 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 >