Required information The following information applies to the questions displayed below) Simon Company's year end balance sheets follow. December Current IT o Te Age Assets Cash $3), 13 $ 38,736 39.90 Accounts receivable, het 89.300 62.600 51,100 Merchandise inventory 113.500 80,000 57,000 teepaid expenses 10.672 10,160 4.09 Plant sts, et 116,061 288.695 251,014 Total sote $501,672 $444,200 $ 403,500 Liabilities and Equity Accounts payable $139,856 $ 81,830 $ 53,262 Long-term motus payable secured by mortgager en plant assets 105,590 111,366 89,270 Common stock, 510 par value 162.500 162.500 162,500 Retained earnings 153.722 129.504 90,564 Total liabilities and equity 3561,672 454,200 $ 403,500 The company's income statements for the Current Year and 1 Year Ago, follow. Assume that all sales are on credit For year hided December Current Te 1 yr ago Sales $ 730, 174 $ 576,198 Coat of goods sold 5 445,406 $ 374,529 Other operating expenses 225,354 145,770 Interest expense 12,413 13,253 Income tax expense 9.492 8.60 Total costs and expenses 693,665 362,203 Net Income 3. Earnings per share 2.25 $ 2.00 $ (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 35 Compute inventory tumover. Inventasy Turnover Choose Numerator: Choose Denominator Inventory Turnover Inventory tumover times times Current Yr 1 Yr Ago: Required 3B)