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 $ 29,389 89,400 113,500 9,464 266,533 $508,286 $ 34,353 $ 36,150 63,000 50,700 82,000 53,000 9,018 4,017 249,807 228, 233 $ 438,178 $ 372,600 $124.032 $ 72,571 $ 48,200 93,647 162,500 1.28. 107 $508,286 98,765 80,698 162,500 162,500 104,342 81,202 $ 438,178 $ 372,600 The company's income statements for the Current Year and 1 Year Ago, follow. Assume that all sales are on credit: 1 Yr Ago $ 521,432 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 $ 660,772 $ 403,071 204,839 11,233 8,590 627, 733 $ 33,039 $ 2.03 $ 338,931 131,922 11,993 7.821 490,667 30,265 $ 1.89 Total costs and expenses Net Income Earnings per share 627, 733 $ 33,039 $ 2.03 490,667 $ 30,765 $ 1.89 (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 18 Compute days' sales uncollected. Choose Numerator Days Sales Uncollected Choose Denominator Days X Current Ye: 1 Yr Ago: Days' Sales Uncollected Days' Sales Uncollected o days o days X X Regut 1 Required 18 > (2-a) Compute accounts receivable turnover. (2-6) 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 2A Required 2B Compute accounts receivable turnover. Accounts Recelvable Turnover Choose Numerator: Choose Denominator 1 Accounts Receivable Turnover Accounts receivable furnover [times 1 Current Yr 1 Yr Ago: 1 = times REMA Required 28 > (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. Choose Numerator. Inventory Turnover Choose Denominator: Inventory Turnover 1 Current Yr: Inventory turnover times times 1 Yr Ago: . Required Required 3B > (4-a) Compute days' sales in inventory. (4-6) 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 4A Required 48 Compute days' sales In Inventory Days' Sales In Inventory Choose Numerator: Choose Denominator 1 1 X Days Current Ye: 1 Yr Ago: Days' Sales In Inventory Days' salos in inventory days days x 1 X Required A Required 48 >
