Required information [The following information applies to the questions displayed below.] Simon Company's year-end balance sheets follow. At December 31 Assets Current Year 1 Year Ago 2 Years Ago Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable $ 27,094 89,200 113,500 8,725 225,343 86,334 $ 31,671 62,100 83,000 8,314 214,796 $ 463,862 $ 399,881 $ 114,347 Long-term notes payable Common stock, $10 par value Retained earnings Total liabilities and equity 162,500 100,681 $ 463,862 $ 66,904 91,053 162,500 79,424 $ 399,881 $ 32,990 50,700 50,000 3,666 199,244 $ 336,600 $ 43,987 73,645 162,500 56,468 $ 336,600 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 $ 603,021 $ 367,843 186,937 1 Year Ago $ 475,858 10,251 7,839 $ 30,151 $ 1.86 $ 309,308 120,392 10,945 7,138 447,783 $ 28,075 $ 1.73 572,870 (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. Current Year: 1 Year Ago: Inventory Turnover Numerator: Denominator: = Inventory Turnover = Inventory turnover = 0 times = 0 times < Required 3A Required 3B >