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 $ 40,145 $ 33,011 98,574 119,078 10,631 303,858 $ 565,152 67,526 90,132 10,334 279,063 $ 487,200 $ 83,984 112,056 162,500 128,660 Long-term notes payable Common stock, $10 par value Retained earnings $ 140,723 105,186 163,500 155,743 Total liabilities and equity $ 565,152 $ 487,200 For both the current year and one year ago, compute the following ratios: $ 40,194 52,520 56,499 4,555 252,232 $ 406,000 $ 51,984 90,623 163,500 99,893 $ 406,000 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 1 Year Ago $ 734,698 $579,768 $ 448,166 $ 376,849 227,756 12,490 146,681 13,335 9,551 8,697 697,963 $ 36,735 $ 2.26 545,562 $ 34,206 $2.10 (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 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. Required IA Required 18 Required 2A Required 28 Required 3A Required 35 Required 4A Required 48 Compute days' sales uncollected. Current Year: 1 Year Ago: Numerator: Days' Sales Uncollected Denominator: Days= = Days' Sales Uncollected Days' sales uncollected 0 days < Requined 1A Required 1B > Required 1A Required 18 Required 2A Required 28 Required 3A Required 3B Required 4A Required 48 Compute accounts receivable turnover. (Round your answers to the nearest whole number.) Accounts Receivable Turnover Current Year: 1 Year Ago: Numerator: Denominator: ' 0 days Accounts Receivable Turnover Accounts receivable tumover 0 times Dtmes Required 1A Required 18 Required 2A Required 2B Required 3A Required 3B Compute inventory turnover. (Round your answers to the nearest whole number.) Current Year: 1 Year Ago: Inventory Turnover Numerator: Denominator: Required 4A Inventory Turnover Inventory turnover O times 0 times < Required 2B Required 3B > Required 4B Required 1A Required 18 Required 2A Required 28 Required 3A Required 38 Required 4A Required 48 Compute days' sales in inventory. Current Year: 1 Year Ago: Numerator: Days Sales In Inventory Denominator: Days Days' Sales In Inventory Days' sales in inventory 1 0 days 1 0 days