Required information [The following information applies to the questions displayed below.) Simon Company's year-end balance sheets follow. 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 Current Yr 1 Yr Ago 2 Yrs Ago $ 37,323 $ 43,627 $ 44,108 89,900 62,400 52,000 112,000 83,000 54,000 12,019 11,452 4,901 368,944 334,164 281,791 $620, 186 $ 534,643 $ 436,800 $157,515 $ 92,162 $ 58, 811 118,927 162,500 181,244 $620, 186 125,427 98,463 162,500 162,500 154,554 117,026 $ 534,643 $ 436,800 The company's income statements for the Current Year and 1 Year Ago, follow. Assume that all sales are on credi 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 $ 806, 242 $ 491,888 249,935 13,706 10,481 765,930 $ 40, 312 1 Yr Ago $636,225 $ 413,546 160,965 14,633 9,543 598,687 $ 37,538 $ 2.31 2.48 Complete this question by entering your answers in the tabs below. Required 3A Required 3B Compute inventory turnover. Inventory Turnover Choose Numerator: Choose Denominator: Inventory Turnover Inventory turnover times Current Yr: 1 Yr Ago: DIE Required 3B 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 Complete this question by entering your answers in the tabs below. Required 4A Required 4B Compute days' sales in inventory. Days' Sales In Inventory Choose Numerator: 1 Choose Denominator: Days - Days' Sales In Inventory Days' sales in inventory days Current Yr: 1 Yr Ago: days Required 4A Required 4B > Complete this questien 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 Required 4A Require