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 Current Year 1 Year Ago 2 Years Ago $ 25,264 74,688 $29,236 51,164 68,292 93,906 7,973 226,378 $428,209 $ 108,757 80,503 163,500 7,752 212,702 $ 369,146 $ 63,633 86,602 162,500 $ 32,008 42,263 44,128 3,349 192,152 $ 313,900 $ 40,192 69,372 162,500 41,836 75,449 $ 428,209 56,411 $369,146 $313,900 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 and fallai Necrime that all eslor are on credit Earnings per share (1-a) Compute days' sales uncollected. $1.71 51.59 (1-b) Determine if days' sales uncollected improved or worsened in the current year. (2-a) Compute accounts receivable turnover. (2-b) Determine if accounts receivable turnover ratio improved or worsened in the current 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. Required 1A Required 18 Required 2A Required 28 Required 3A Required 38 Required 4A Required 4B Compute days' sales uncollected. Days Sales Uncollected Numerator: Denominator: Days Days' Sales Uncollected Days' sales uncollected Check my w HOFSTRA H uie curent ye'd Complete this question by entering your answers in the tabs below. Required 1A Required 18 Required 2A Required 28 Required 3A Required 38 Required 4A Required 48 Compute days' sales uncollected. Current Year: 1 Year Ago: Days Sales Uncollected Numerator: Denominator: Days Days' Sales Uncollected Required 1B > A Days' sales uncollected 0 days 0 days 121 (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. Required 1A Required 1B nd Required 2A Required 28 Required 3A Required 38 Required 4A Required 48 Determine if days' sales uncollected improved or worsened in the current year. k Days' sales uncollected ces Complete this question by entering your answers in the tabs below. cile current year. Required 1A Required 18 Required 2A Required 2B Required 3A Required 38 Required 4A Required 48 Compute accounts receivable turnover. (Round your answers to the nearest whole number.) Current Year: 1 Year Ago: Numerator: Accounts Receivable Turnover Denominator: Accounts Receivable Turnover Accounts receivable turnover 0 times 0 times Complete this question by entering your answers in the tabs below. ed Required 1A Required 18 Required 2A Required 28 Required 3A Required 38 Required 4A Required 4B Determine if accounts receivable turnover ratio improved or worsened in the current year. k Accounts receivable turnover wt inces (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. Required 1A Required 18 Required 2A Required 2B Required 3A Required 38 Required 4A Required 48 Compute inventory turnover. (Round your answers to the nearest whole number.) Current Year: 1 Year Ago: Inventory Turnover Numerator: Denominator: Complete this question by entering your answers in the tabs below. Required 1A Required 1B Required 2A Required 2B Required 3A Required 38 Required 4A Required 4B Determine if inventory turnover ratio improved or worsened in the current year. Inventory turnover Complete this question by entering your answers in the tabs below. Required 1A Required 18 Required 2A Required 28 Required 3A Required 38 Required 4A Required 40 Compute days' sales in inventory. Current Year: 1 Year Ago: Days' Sales In Inventory Numerator: Denominator: Days Days' Sales In Inventory Days' sales in inventory 0 days 0days Complete this question by entering your answers in the tabs below. Required 1A Required 1B Required 2A Required 2B Required 3A Required 38 Required 4A Required 48 For each ratio, determine if days' sales in inventory improved or worsened in the current year. Days' sales in inventory 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 (1-a) Compute days' sales uncollected. Current Year $ 339,570 172,568 9,463 1 Year Ago $ 556,672 $ 285,535 111,139 10,104 $439,284 7,237 6,589 528,838 $27,834 413,367 $ 25,917 $1.71 $ 1.59 (1-b) Determine if days' sales uncollected improved or worsened in the current year. (2-a) Compute accounts receivable turnover. (2-b) Determine if accounts receivable turnover ratio improved or worsened in the current year. (3-6) 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