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 Long-term notes payable Common stock, $10 par value. Retained earnings Total liabilities and equity Current Year 1 Year Ago 2 Years Ago $ 26,579 77,812 $ 31,068 98,812 8,905 242,934 54,370 74,023 8,403 224,414 $ 392,278 $455,042 $113,305 $ 64,306 83,837 163,500 94,400 $ 455,042 $ 392,278 92,028 163,500 72,444 For both the current year and one year ago, compute the following ratios: $ 33,344 44,458 48,295 3,596 200,507 $ 330,200 $ 44,022 74,434 162,500 49,244 $ 330,200 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 $ 591,555 $ 360,849 183,382 10,056 1 Year Ago $466,811 7,690 561,977 $ 29,578 $ 1.82 $ 303,427 118,103 10,737 7,002 439,269 $ 27,542 $ 1.69 Book Print ferences (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 18 Required 2A Required 28 Required 3A Required 38 Required 4A Required 48. Compute days' sales uncollected. Days' Sales Uncollected Numerator: Denominator: Days Days' Sales Uncollected Days' sales uncollected Current Year: 0 days 1 Year Ago: 0 days Required 1A Required 18 > 0.85 (1-a) Compute days' sales uncollected. points Book P References (1-b) Determine if days' sales uncollected improved or worsened in the current ye (2-a) Compute accounts receivable turnover. (2-6) Determine if accounts receivable turnover ratio improved or worsened in the current year. (3-a) Compute inventory turnover (3-6) Determine if inventory turnover ratio improved or worsened in the current year. (4-a) Compute days' sales in inventory. (4-6) 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 4A Required 48 Required 1A Required 18 Required 2A Required 28 Required 3A Required 38 Compute accounts receivable turnover. (Round your answers to the nearest whole number.) Current Year: 1 Year Ago Numerator Accounts Receivable Turnover Denominator Accounts Receivable Turnover Accounts receivable tumover O times 0 times 4 Required information. Income tax expense 7,690 7,002 Total costs and expenses 561,977 439,269 art 3 of 6 Net income Earnings per share $29,578 $1.02 $27,542 $1.69 85 (1-a) Compute days' sales uncollected. oints (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. ellook (3-a) Compute inventory turnover. Print References (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 28 Required 3A Required 38 Compute inventory turnover. (Round your answers to the nearch whole number.) Inventory Turnover Required 4A Required 48 Numerator: Current Year: 1 Year Ago: Denominator Inventory Turnover Inventory turnover. 0 times 0 times 4 Required information Income tax expense 7,690 7,002 Total costs and expenses) rt 3 of 6 Net income Earnings per share 561,977 $29,570 $1.02 439,269 $27,542 $1.69 85 (1-a) Compute days' sales uncollected. ints eBook Print References (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 IA 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 1 0 days 0 days