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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,
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 Current Year 1 Year Ago 2 Years Ago $ 25,170 89,300 110,500 8,106 197,850 $ 430,926 $ 106,228 Long-term notes payable Common stock, $10 par value 80,204 162,500 Retained earnings 81,994 Total liabilities and equity $ 430,926 51,400 56,000 $ 29,422 $ 30,648 62,300 84,500 7,723 187,543 $ 371,488 $ 62,154 84,588 162,500 62,246 $371,488 3,405 171,247 $ 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 1 Year Ago $442,071 $ 341,724 $287,346 173,663 111,844 9,523 7,283 10,168- 6,631 532,193 $28,011 415,989 $ 26,082 $1.72 $ 1.61 (1-a) Compute days' sales uncollected. (1-b) For each ratio, determine if it improved or worsened in the current year.
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