Required Information [The following information applies to the questions displayed below] Simon Company's year-end balance sheets follow. At December 31 Current Yr 1 yr Ago 2 Yrs Ago Assets Cash $ 27,690 $ 32,367 $ 33,715 Accounts receivable, net 89,900 62,500 51,700 Merchandise inventory 114,589 84,000 53,000 Prepaid expenses 8,917 8,496 3,746 Plant assets, net 233,053 221,309 201,839 Total assets $ 474,060 5408,672 5 344,000 Liabilities and Equity Accounts payable $116,861 $ 68,375 $ 44,954 Long-ters notes payable 88,232 93,055 75,264 Common stock, $10 par value 162,500 162,500 162,500 Retained earnings 106,462 84,742 61,282 Total liabilities and equity $ 474,060 $ 408,672 $ 344,000 The company's income statements for the current year and one year ago follow. Assume that all sales are on credit: 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 $ 616,278 $375,930 191,046 10,477 8,212 585,465 5 30,813 $ 1.90 1 Ye Ago $486,32e $316,188 123, 039 11,185 7,295 457,627 $ 28,693 $ 1.77 (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 2 Compute accounts receivable turnover. cer Choose Numerator Net sales Accounts Receivable Tumover 1 Choose Denominator: Average accounts receivablo, net Accounts Receivable Turnover Accounts receivable turnover 1 Otimos Current Yr: 1 Yr Ago: Otimos S of 4 (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. Book Required 3A Required 3B Hint Compute inventory turnover. Print Terences Choose Numerator: Inventory Turnover 1 Choose Denominator: Current Yr: Inventory Turnover Inventory turnover 0 times O times 1 Yr Ago: 1 1 Ren! JA 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 Denominator: Choose Numerator: X Days 1 X Days' Sales In Inventory Days sales in Inventory o days 0 days 1 Current Yr: 1 Yr Ago: X 1 X Reque 4 Required 4B >