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, $1e par value Retained earnings Total liabilities and equity $ 38,93e 89,560 114, eee 12,537 385,637 $ 640,684 $ 45,505 $ 45,560 62,100 50,900 84,500 58,000 11,945 5,862 348, 195 287,278 $ 552,245 $ 446,800 $ 164,296 124,847 162,500 289,761 $ 64,684 $ 96,129 $ 60, 747 130,827 101,705 162,500 162,500 162,789 121,848 $ 552,245 $ 446,800 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 operating expenses Interest expense Income tax expense Total costs and expenses Net income Earnings per share Current Yr $ 832,785 $ 507,999 258,163 14,157 10,826 791,145 $ 41,640 $ 2.56 1 Yr Ago $ 657,172 $427,162 166, 265 15,115 9,858 618,400 $ 38,772 $ 2.39 (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 35 Compute inventory turnover. Choose Numerator: Inventory Turnover 1 Choose Denominator: 1 Inventory Turnover Inventory tumover times times 1 Current Yr: 1 Yr Ago: Required information The following information applies to the questions displayed below. Simon Company's year-end balance sheets follow Current Ye 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, 510 par value Retained earnings Total liabilities and equity $ 38,930 89, see 114.000 12,537 385,637 $ 640,604 1 Yr Ars $ 45,525 545,560 52,100 50,900 84,500 58,00 11,945 5,052 348,195 287,278 $ 552,245 $ 446,500 $164,296 124,147 162,580 189,761 $ 640, 604 $ 96,129 $ 60, 747 138,827 101,705 162,50 162,500 162,789 121,848 $ 552,245 S 145,8 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 operating expenses Interest expense Income tax expense Total costs and expenses Net income Earnings per share Current Yr $ 832,785 $ 507,999 258,263 14,157 10,826 791,145 $ 41,640 $ 2.56 1 Yr Ago $ 657,172 $427,162 166,265 15,115 9.85 618,460 $ 38,772 5 2.39 (3-a) Compute inventory turnover (3-6) 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 3A Required 38 For each ratio, determine if it improved or worsened in the current year, Inventory turnover (Required 3A Improved Worsened
