Required information [The following information applies to the questions displayed below) Simon Company's year-end balance sheets follow Current Yr 1 Yr Ago 2 Yrs A At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses plant assets, net Total assets Liabilities and Equity Accounts payable Long-tere notes payable secured by mortgages on plant assets Common stock, 510 par value Retained earnings Total liabilities and equity $ 31,350 89, 100 111,000 18,096 279,394 $520,940 $ 36,645 5.37,050 62,700 50,400 82.000 54,00 9,619 4,112 258,122 221,333 $ 449,086 5 366,900 $ 132,300 $ 97,413 549,399 99,895 162,500 126 227 $ 520,940 105,356 82,707 162,500 162,5ee 103,812 72,294 $ 449,036 S 366,900 The company's income statements for the Current Year and 1 Year Ago follow. Assume that all sales are on credit CO Check The company's income statements for the Current Year and 1 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 Yr $ 677,222 $ 413,105 209,939 11,513 8,804 643,361 $ 33,861 $ 2.08 1 Ye Ago $ 534,412 $ 347,368 135,286 12,291 8,016 502,881 $ 31,531 $ 1.94 $ 1.54 4 of 4 (4-6) 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. 02.16.40 Required 4A Required 40 cos Compute days' sales in Inventory int Days Sales lenventory Choose Numerator Choose Denominator Days Days' Sales Inventory Days/ sales in Invoy 1 - Current Yr 1 Ye Ago: X O days w SOM a * 514 Tere to search