Required information [The following information applies to the questions displayed below.) Simon Company's year-end balance sheets follow. At December 31 Current Yr 1 Yr Ago 2 Yrs Ago Assets Cash $ 38,267 $ 44,731 $ 44,785 Accounts receivable, net 89,000 62,600 50,000 Merchandise inventory 113,000 83,500 53,000 Prepaid expenses 12,323 11,742 4,976 Plant assets, net 377 117 340, 278 286,439 Total assets $629,707 $ 542,851 $ 439,200 Liabilities and Equity Accounts payable $161,501 $ 94,494 $ 59,714 Long-tern notes payable secured by mortgages on plant assets 121,936 128,601 99,975 Common stock, $10 par value 162,500 162,500 162,500 Retained earnings 183, 770 157.256 117,011 Total liabilities and equity $629,707 $ 542,851 $ 439,200 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 Current Yr 1 Yr Ago Sales $ 818,619 $ 645,993 Cost of goods sold $ 499,358 $ 419,895 Other operating expenses 253, 772 163,436 Interest expense 13,917 14,858 Income tax expense 10.642 9,690 Total costs and expenses 777,689 607,879 Net income $ 40,930 $ 38, 114 Earnings per share $ 2.52 2.35 $ (3-a) Compute Inventory turnover. 3-b) For each ratio, determine if it improved or worsened in the current year mework Savu Help Save & Exit Submit 253, 772 13,917 10.642 > 449.0 163,436 14,858 9,690 01 yuuussuu Other operating expenses Interest expense Income tax expense Total costs and expenses Net income Earnings per share 777,689 $ 40,938 $ 2.52 607, 879 $ 38, 114 5 2.35 (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 33 Compute Inventory turnover. Inventory Turnover Choose Denominator Choose Numerator Inventory Turnover Inventory turnover Current Yr: times times 1 Yr Ago: Required 30 > 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 $ 818,619 $ 499,358 253,772 13,917 10,642 777.689 $ 40,930 $ 2.52 1 Ye Ago 5645,993 $ 419,095 163,436 14,858 9,690 607,879 $ 38, 114 $ 2.35 (3-a) Compute inventory turnover, (3-6) 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 38 For each ratio, determine if it improved or worsened in the current year. Inventory turnover