Required information [The following information applies to the questions displayed below.) Simon Company's year-end balance sheets follow. At December 31 Assets Current Year 1 Year Ago 2 Years Ago Cash $ 34,658 89,200 110,000 11,161 354,392 $ 599,411 $ 40,512 62,600 82,500 10,634 320,488 $ 516,734 $ 42,631 50,400 54,000 4,737 287,632 $ 439,400 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 $ 146,268 110,435 162,500 180, 208 $ 599,411 $ 85,581 116,472 162,500 152,181 $ 516,734 $ 56,841 95,165 162,500 124,894 $ 439,400 The company's income statements for the current year and one year ago follow. Assume that all sales are on credit: For Year Ended December 31 Sales Cost of goods sold Other operat exp Interest expense Income tax expense Total costs and expenses Net income Earnings per share Current Year $ 779,234 $ 475, 333 241,563 13,247 10,130 740, 273 $ 38,961 1 Year Ago $ 614,913 $ 399,693 155,573 14,143 9,224 578,633 $36, 280 $ 2.23 $ 2.40 (1-a) Compute days' sales uncollected. (1-6) 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 1A Required 1B Compute days' sales uncollected. Days' Sales Uncollected 1 Denominator: Numerator: Days = = Days' Sales Uncollected Days' sales uncollected days days Current Year: 1 1 Year Ago: (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