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 Ago 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 $ 29,823 89,500 111,500 9,604 275,362 $515,789 $ 34,860 $ 36,683 62,000 52,000 84,000 53,000 9,151 4,076 254,635 232, 341 $ 444,646 $ 378,100 $125,863 95,029 162,500 132, 397 $515,789 $ 73,642 $ 48,911 100, 223 81,889 162,500 162,500 108,281 84,800 $ 444,646 $ 378,100 The company's income statements for the current year and one year ago follow. Assume that all sales are on credit: The company's income statements for the current year and one year ago follow. Assume that all se For Year Ended December 31 Current Yr 1 Yr Ago Sales $ 670,526 $ 529,129 Cost of goods sold $ 409,021 $ 343,934 Other operating expenses 207,863 133,870 Interest expense 11,399 12,170 Income tax expense 8,717 7,937 Total costs and expenses 637,000 497,911 Net income $ 33,526 $ 31,218 Earnings per share $ 2.06 $ 1.92 a) Compute accounts receivable turnover. b) For each ratio, determine if it improved or worsened in the current year. Complete this question by entering your answers in the tabs felow. Required 2A Required 28 Compute accounts receivable turnover. Accounts Receivable Turnover Choose Numerator: Choose Denominator: urrent Yr: Accounts Receivable 1 Accounts receivable tu times 1 Yr Ago: 1 = = times Required 24 Required 2B>