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 Current Year 1 Year Ago 2 Years Ago $ 35,625 62,500 $ 37,800 82,500 $ 31,800 89,500 112,500 10,700 278,500 9,375 255,000 $ 445,000 $ 523,000 $ 129,900 Long-term notes payable. Common stock, $10 par value. Retained earnings 98,500 163,500 131,100 $ 75,250 101,500 163,500 104,750 Total liabilities and equity $ 523,000 $ 445,000 For both the current year and one year ago, compute the following ratios: 50,200 54,000) 5,000 230,500 $ 377,500 $ 51,250 83,500 163,500 79,250 $ 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 Sales Cost of goods sold Other operating expenses Interest expense Income tax expense Total costs and expenses Net income Earnings per share Current Year $ 673,500 $ 411,225 209,550 12,100 9,525 1 Year Ago $ 532,000 642,400 $ 345,500 134,980 13,300 8,845 502,625 $ 29,375 $ 31,100 $ 1.90 $ 1.80 Required 1A Required 18 Required 2A Required 2B Required 3A Required 38 Required 4A Required 48 Compute days' sales uncollected. Current Year: 1 Year Ago: Days' Sales Uncollected Numerator: Denominator: x Days Days' Sales Uncollected x # x x Days' sales uncollected O days 0 days Required 1A Required 18 > Compute accounts receivable turnover. Current Year: 1 Year Ago: Accounts Receivable Turnover Numerator: Denominator: = = Accounts Receivable Turnover Accounts receivable tumover 0 times 0 times Current Year: 1 Year Ago: Inventory Turnover Numerator: Denominator: Inventory Turnover = Inventory turnover = 0 times = 0 times Compute days sales in inventory. Current Year: Numerator: Days' Sales In Inventory Denominator: x Days = Days' Sales In Inventory x x = = Days' sales in inventory 0 days