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 Total assets Current Year 1 Year Ago 2 Years Ago $ 43,613 $ 42,369 75,581 99,875 10,781 299,430 $ 35,499 104,988 132,002 11,315 330,161 $ 613,965 $ 529,280 55,915 62,011 4,948 271,457 $ 436,700 $ 58,797 Plant assets, net Liabilities and Equity Accounts payable Long-term notes payable $ 151,349 116,580 Common stock, $10 par value 162,500 162,500 Retained earnings 183,536 152,591 Total liabilities and equity $ 613,965 $529,280 $ 436,700 $ 91,237 122,952 96,511 162,500 118,892 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 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 $ 486,875 247,428 13,569 10,376 $ 798,155 758,248 $ 39,907 $ 2.46 1 Year Ago $ 409,398 159,350 14,486 9,448 $629,843 592,682 $ 37,161 $ 2.29 (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. Complete this question by entering your answers in the tabs below. Required 1A Required 1B Required 2A Required 2B Required 3A Required 3B Required 4A Required 48 Compute days' sales uncollected. Current Year: 1 Year Ago: Numerator: Days' Sales Uncollected Denominator: x Days = Days' Sales Uncollected = Days' sales uncollected = days days Required A Required 18 >