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 $ 26,257 89,500 111,000 8,456 214, 317 $449,530 $ 30,692 $ 31,971 62,100 51,100 82,000 54,000 8,057 3,552 204,677 185,577 $ 387,526 $ 326,200 $110,814 83,667 162,500 92,549 $449,530 $ 64,837 $ 42,628 88,240 71,369 162,500 162,500 71,949 49, 703 $ 387,526 $ 326,200 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 Current Yr 1 Yr Ago Sales $ 584,389 $ 461,156 Cost of goods sold $ 356,477 $ 299,751 Other operating expenses 181,161 116,672 Interest expense 9,935 10,607 Income tax expense 7,597 6,917 Total costs and expenses 555, 170 433, 947 Net income $ 29,219 $ 27,209 Earninge per share $ 1.80 1.67 $ Required 3A Required 38 Compute inventory turnover. Choose Numerator: Inventory Turnover 1 Choose Denominator: 1 II Inventory Turnover Inventory turnover times times 11 1 Current Yr: 1 Yr Ago: = Required 3A Required 3B For each ratio, determine if it improved or worsened in the current year. Inventory turnover