Simon Company's year-end balance sheets follow. At December 31 Current Yr 1 Yr Ago 2 Yrs Ago Assets $ 25,323 $ 29,600 $ 31,469 62,900 83,500 7,770 197,673 185,334 $ 381,443 $ 327,700 Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net 89,500 114,500 8,155 204,996 51,400 56,000 3,497 Total assets $442,474 Liabilities and Equity Accounts payable Long-term notes payable secured by mortgages on plant assets Common stock, $10 par value Retained earnings $106,871 $ 62,530 $ 41,959 80,690 162,500 92,413 85,100 162,500 70,249 162,500 52,992 71,313 Total liabilities and equity $442,474 $ 381,443 $ 327,700 The company's income statements for the Current Year and 1 Year Ago, follow. Assume that all sales are on credit: 1 Yr Ago $ 453,917 For Year Ended December 31 Current Yr Sales $ 575,216 Cost of goods sold Other operating expenses Interest expense Income tax expense Total costs and expenses $ 350,882 178,317 9,779 7,478 $ 295,046 114,841 10,440 6,809 427,136 $ 26,781 546,456 Net income $ 28,760 Earnings per share $ 1.77 1.65 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: I Choose Denominator: Accounts Receivable Turnover Accounts receivable turnover Current Yr: times 1 Yr Ago: times %3D < Required 2A Required 2B (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 I Choose Denominator: Choose Numerator: Inventory Turnover Inventory turnover Current Yr: times 1 Yr Ago: times (4-a) Compute days' sales in inventory. (4-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 4A Required 4B Compute days' sales in inventory. Days' Sales In Inventory Choose Numerator: Choose Denominator: Days Days' Sales In Inventory Days' sales in inventory Current Yr: 0 days 1 Yr Ago: 0 days Required 4A Required 4B >