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 secured by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity $ 28,821 89,600 110,500 9,281 260, 262 $ 498,464 $ 33,689 $ 35,451 62,300 50,400 84,000 53,000 8,843 3,939 240,878 222,610 $ 429,710 $ 365,400 $ 121,635 $ 71,169 $ 47,268 91,837 162,500 122,492 $ 498,464 96,857 79,138 162,500 162,500 99,184 76,494 $ 429,710 $ 365,400 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 $ 648,003 $ 395, 282 200, 881 11, 016 8,424 615,603 $ 32,400 $ 1.99 1 Yr Ago $ 511, 355 $ 332, 381 129, 373 11,761 7,670 481, 185 $ 30,170 $ 1.86 (1-a) Compute days' sales uncollected. (1-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 1A Required 1B Compute days' sales uncollected. Days' Sales Uncollected 1 Choose Denominator: Choose Numerator: x Days = = Days' Sales Uncollected Days' Sales Uncollected days Current Yr: 1 Yr Ago: days (1-a) Compute days' sales uncollected. (1-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 1A Required 1B For each ratio, determine if it improved or worsened in the current year. Days' sales uncollected (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 1 Choose Denominator: Choose Numerator: = Accounts Receivable Turnover Accounts receivable turnover times Current Yr: 1 Yr Ago: times (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 For each ratio, determine if it improved or worsened in the current year. Accounts receivable turnover (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 Choose Numerator: 7 Choose Denominator: = Inventory Turnover = Inventory turnover Current Yr: times 1 Yr Ago: times (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 For each ratio, determine if it improved or worsened in the current year. Inventory turnover (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 1 Choose Denominator: Choose Numerator: X Days = Days' Sales In Inventory Days' sales in inventory days days Current Yr: 1 Yr Ago: (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 For each ratio, determine if it improved or worsened in the current year. Days' sales in inventory
