Required Information The following information applies to the questions displayed below) Simon Company's year-end balance sheets follow At December 11 Current Year 1 Year Agd 2 Years Ago Assets Cash Accounts receivable, net Merchandise Inventory Prepaid expenses Plant assets, net Total assets $ 30,826 $ 35,622 90,236 64,318 112,332 $1,325 $38,296 51,567 $4,930 10,126 9,364 4,129 278,953 257-729 234,878 5522,473 $450,409 $383,60 Liabilities and Equity Accounts payable $132,698 $76,880 $ 52,073 Long-term notes payable 180,594 82.95e Common stock, $10 par value 162,500 162,500 163, sea Retained earnings 129,05 107,434 84,477 Total 11abilities and equity $522,473 $450,408 5383,000 For both the current year and one year ago, compute the following ratios company's Income statements for the current year and one year ago follow. Assume that all sales are on credit. me Near Ended December 31 ales ost of goods sold ther operating expenses nterest expense Cecome tax expense Total costs and expenses et Income Earnings per share al Compute days' sales uncollected Current Year Year Ago $679,215 $ 535,986 5414,321 210,557 8,830 $348,391 135,6 12,328 3,040 645,255 533,9 504,363 $31,623 $2.09 $1.95 b) Determine if days sales uncollected improved or worsened in the current year. a) Compute accounts receivable turnover b) Determine if accounts receivable turnover ratio Improved or worsened in the current year B-a) Compute inventory turnover. 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 SA Required 10 Required 2A Required 28 Required 3A Required 38 Required 4A Required as Compute days' sales uncollected. Current Year 1 Year Ago Deva Sales Uncollected Numerator Denominator Accounts receivables, net Net sales Days 305 Days Sales Uncollected Days' sales uncollected 679.215 days 530.000 days Required 18 >> Required Information. [The following information applies to the questions displayed below Simon Company's year-end balance sheets follow AL December 31 Assets Cash Current Year Yo Accounts receivable, set Merchandise Inventory Prepaid expenses $30,826 50.236 $35,672 538,296 64,318 51,567 132,332 83,325 54,930 Plant assets, ret 10.120 278.950 4,129 Total assets $522,473 257 729 $450,408 234 078 Liabilities and Equity Accounts payable $132,698 $ 76,880 $52,073 Long-tere notes payable 98,225 103,594 2,950 Common stock $10 par value 162,500 162,500 163,508 Retained earnings 129,050 147,434 3477 Total liabilities and equity 15522.473 $450,408 383,000 For both the current year and one year ago, compute the following ratios The company's Income statements for the current year and one year ago follow. Assume that all sales are on credit For Year Ended Decmber 11 Year Sales $679,215 Cost of goods sold Other operating expenses $414,321 210,557 Interest expense 11,547 $348,291 135,604 11,328 Income tax expense 6.610 8,040 Total costs and expenses Net Income 645,255 $33,900 584,363 $31,621 Earnings per share $1.95 (1-a) Compute days' sales uncollected (1-b) Determine if days' salos uncollected improved or worsened in the current year. (2-a) Compute accounts receivable turnover (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 tumover 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 10 Required 24 Required 20 Required 3A Required 38 Requ Compute accounts receivable turnover. (Round your answers to the nearest whole number) Numerator Accounts receivable Current Year 1 Year Ago Accounts Reeble Tumovi Denomato Accounts Receivable Tumover Accounts receivable turnover smes Required Information [The following Information applies to the questions displayed below] Simon Company's year-end balance sheets follow At December 31 Assets Cash Correct Year 1 Year Ago Years Ago $30,825 Accounts receivable, net Merchandise Inventory Prepaid expenses Plant assets, net Total assets 90,236 $35.672 64,118 112,332 $38,296 $1,567 54,900 30,126 9,364 4,129 278,953 257-729 522,473 $450,408 5383,000 Liabilities and Equity Accounts payable $132.698 576,880 $52,073 Long-tene notes payable S225 103,594 182,950 Coman stock, $10 par value 262,500 162,see Retained earnings 129,050 107,434 163,500 84,477 Total abilities and equity 5522.473 For both the current year and one year ago, compute the following ratios 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 2 Corrent 1 Yea Ag Sales $679.215 $535,986 Cost of goods sold $414,321 Other operating expenses Interest expense Income tax expense 219,227 11,547 8,630 $348,391 135,604 22,328 8,048 Total costs and expenses Net Incone EAS/255 333,900 52.09 564,363 31,621 56'T F Earnings per share (1-a) Compute days' sales uncollected (1-b) Determine if days' sales uncollected improved or worsened in the current year (2-a) Compute accounts receivable tumover (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 10 Required A Required 28 Required 3A Required 30 Required 45 Compute inventory turnover. (Round your answers to the nearest whole number) Numerator Net sales Current Year 1 Year Ago Inventory Turnover Denominator Accounts receivable ventory Tumover Inventory mover smes > Required Information The following information applies to the questions displayed below] Simon Company's year-end balance sheets follow At December 31 Assets Current Year 1 Year Ago 2 Years Ag Cash Accounts receivable, net Merchandise Inventory Prepaid expenses Plant assets, pet Total assets 120,826 50,236 535,672 64,318 $38,296 51,567 112,332 83,325 54,938 10,126 9,364 4,129 278,953 257,729 $522,473 $450,400 234,078 $83,608 Liabilities and Equity Accounts payable $132,698 $ 76,880 $52,073 Long-tere notes payable. 90,225 103,594 32,950 Common stock, $10 par value 162,500 162,500 163,500 Retained earnings 129,050 107,434 $4,477 Total liabilities and equity $522,473 $450,400 $383,000 For both the current year and one year ago, compute the following ratios The company's income statements for the current year and one year ago follow. Assume that all sales are on credit Current Year For Year Ended December 11 Sales $679,215 1 Year Ago $535,986 Cost of goods sold) $414,321 $348,391 Other operating expenses Interest expense 210,557 11,547 Income tax expense 8,830 135,004 12,128 8,040 Total costs and expenses 645,255 504, 363 Net Incone $ 31,623 Earnings per share $2.09 $1.95 (1-a) Compute days' sales uncollected (1-b) Determine if days' sales uncollected improved or worsened in the current year (2-al Compute accounts receivable turnover (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 18 Required 2A Required 20 Required 3A Required 38 Required 4A Required 40 Compute days' sales in inventory. Current Year 1 Year Ago: Numerator Days Sales in Inventory Denominator Days W M Days Sales In Inventory Days' sales in inventory Odays days Required 38 Required 48>