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 $ 25,170 $ 29,422 Current Year 1 Year Ago 2 Years Ago $ 30,648 62,300 51,400 84,500 56,000 3,405 171,247 89,300 110,500 8,106 197,850 $ 430,926 $106,228 80,204 162,500 81,994 $ 430,926 7,723 187,543 $ 371,488 $ 62,154 84,588 162,500 62,246 $ 371,488 $ 312,700 $ 40,864 68,416 162,500 40,920 $ 312,700 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 $ 560,204 $ 341,724 1 Year Ago $442,071 173,663 9,523 7,283 532,193 $28,011 $ 287,346 111,844 10,168 6,631 $ 1.72 415,989 $ 26,082 $ 1.61 (3-a) Compute inventory turnover. (3-b) For each ratio, determine if it improved or worsened in the current year.