Required information The following information applies to the questions displayed below.] Simon Company's year-end balance sheets follow. Current Yr 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 secured by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity $ 24,475 89,700 111,500 7,882 189, 742 $ 423,299 1 Yr Ago 2 Yrs Ago $ 28,609 $ 30,105 62,900 50,300 83,000 54,000 7,510 3,345 182,894 172,550 $ 364,913 $ 310,300 $ 103,293 $ 60,437 $ 40,140 77,989 162,500 79,517 $ 423,299 82,251 67,205 162,500 162,500 59,725 40,455 $364,913 $ 310, 300 The company's income statements for the Current Year and 1 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 Yr $ 550,289 $ 335,676 170,590 9,355 7,154 522,775 $ 27,514 $ 1.69 1 Yr Ago $ 434,246 $ 282,260 109,864 9,988 6,514 408,626 $ 25,620 $ 1.58 (1-a) Compute days' sales uncollected. (1-b) For each ratio, determine if it improved or worsened in the current year. Complete this question by entering your answers in the tabs below. Required 1A Required 1B Compute days' sales uncollected. Days' Sales Uncollected 1 Choose Denominator: Choose Numerator: Days Days' Sales Uncollected Days' Sales Uncollected 0 days 0 days - Current Yr: 1 Yr Ago: X - (Required 1A Required 1B > (1-a) Compute days' sales uncollected (1-b) For each ratio, determine if it improved or worsened in the current year. Complete this question by entering your answers in the tabs below. Required 1A Required 1B For each ratio, determine if it improved or worsened in the current year. Days' sales uncollected equired 1A Required 1B Improved Worsened (2-a) Compute accounts receivable turnover. (2-b) For each ratio, determine if it improved or worsened in the current year. Complete this question by entering your answers in the tabs below. Required 2A Required 2B Compute accounts receivable turnover. Accounts Receivable Turnover Choose Numerator: 1 Choose Denominator: Accounts Receivable Turnover Accounts receivable turnover Current Yr: / times 1 Yr Ago: 1 times (2-a) Compute accounts receivable turnover. (2-b) For each ratio, determine if it improved or worsened in the current year. Complete this question by entering your answers in the tabs below. Required 2A Required 2B For each ratio, determine if it improved or worsened in the current year. Accounts receivable turnover juired 2A Required 2B Improved Worsened (3-a) Compute inventory turnover. (3-b) For each ratio, determine if it improved or worsened in the current year. Complete this question by entering your answers in the tabs below. Required 3A Required 3B Compute inventory turnover. Inventory Turnover 1 Choose Denominator: Choose Numerator: Inventory Turnover / = Inventory turnover Current Yr: times 1 1 1 Yr Ago: times Complete this question by entering your answers in the tabs below. Required 3A Required 3B For each ratio, determine if it improved or worsened in the current year. Inventory turnover (4-a) Compute days' sales in inventory. (4-6) For each ratio, determine if it improved or worsened in the current year. Complete this question by entering your answers in the tabs below. Required 4A Required 4B For each ratio, determine if it improved or worsened in the current year. Days' sales in inventory