Required information [The following information applies to the questions displayed below] Simon Company's year-end balance sheets follow. At December 31 Assets Cash Current Year 1 Year 2 Years Ago Ago $ 29,981 35,294 36,036 Accounts receivable, net 85,811 59,965 46,182 Merchandise inventory 184,687 80,824 58,685 Prepaid expenses 9,629 9,175 3,887 Plant assets, net 266,824 243,063 216,618 $ $ Total assets 496,852 428,321 353,400 Liabilities and Equity $ $ 5 Accounts payable 122,479 91,540 71,662 180,484 47,582 76,539 163,500 163,500 163,500 Long-term notes payable Common stock, $10 par value Retained earnings Total liabilities and equity 119,333 92,675 65,779 $ 496,852 428,321 353,400 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 c For Year Ended Current Year December 31 1 Year Ago Sales 645,908 509,782 $ Cost of goods sold 394,004 331,306 Other operating 200,231 128,955 expenses Interest expense 10,980 11,723 Income tax expense 8,397 7,646 Total costs and 613,612 479,630 expenses Net income $ 32,296 $ 38,072 $1.99 $1.85 Earnings per share (1-a) Compute days' sales uncollected. (1-6) Determine if days' sales uncollected improved or worsened in the curent year. (2-a) Compute accounts receivable turnover 2-b) Determine if accounts receivable turnover ratio improved or worsened in the curent 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. Compute days' sales in inventory. Required Days' Sales In Inventory Numerator: Denominator: Days Ending inventory Cost of goods sold 365 Days' Sales In Inventory Days sales in inventory Current Year: 1 Year Ago: 0 days 0 days