Simon Company's year-end balance sheets follow. At December 31 Assets Current Year 1 Year Ago 2 Years Ago Cash Accounts receivable, net $ 36,934 108,118 Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable 135,938 11,894 333,124 $ 626,008 $ 44,036 77,064 100,836 11,220 306,506 $ 539,662 $ 42,776 59,363 61,356 4,753 272,652 $ 440,900 Long-term notes payable Common stock, $10 par value Retained earnings Total liabilities and equity $157,435 117,698 $ 88,467 122,881 163,500 187,383 $ 626,008 $ 539,662 162,500 165,814 For both the current year and one year ago, compute the following ratios: $ 58,199 98,413 162,500 121,788 $ 440,900 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 Current Year 1 Year Ago $ 813,810 $ 642,198 $ 496,424 252,281 13,835 10,580 $ 417,429 162,476 14,771 9,633 773,120 604,309 $ 37,889 $ 40,690 Earnings per share (1-a) Compute days' sales uncollected. $ 2.50 (1-b) Determine if days' sales uncollected Improved or worsened In the current year. (2-a) Compute accounts receivable turnover. $ 2.33 (2-b) Determine if accounts receivable turnover ratio Improved or worsened in the current year. (3-a) Compute Inventory turnover. (3-b) Determine if Inventory turnover ratio improved or worsened in the current year. (4-a) Compute days' sales in Inventory. (4-b) For each ratio, determine if days' sales in Inventory Improved or worsened in the current year.