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 $ 32, 125 $ 37,551 $ 37,596 Accounts receivable, net 89, 100 62,800 50,000 Merchandise inventory 112,500 83,500 50,000 Prepaid expenses 10, 345 9,857 4, 177 Plant assets, net 284,557 262,005 226,927 Total assets $528,627 $455,713 $368, 700 Liabilities and Equity Accounts payable $135,577 $ 79,326 $ 50, 128 Long-term notes payable secured by mortgages on plant assets 102,363 107,958 83,927 Common stock, $10 par value 162,500 162,500 162,500 Retained earnings 128, 187 105,929 72,145 Total liabil: ies and equity $528,62 $455,713 $368, 700 The company's income statements for the Current Year and 1 Year Ago, follow. Assume that all sales are on credit: For Year Ended December Current Yr 31 Sales $687,215 Cost of goods sold $419, 201 Other operating 213,037 expenses Interest expense 11,683 Income tax expense 8,934 Total costs and 652,855 expenses Net income $ 34, 360 Earnings per share $ 2.11 1 Yr Ago $542,298 $352,494 137,201 12,473 8,134 510,302 $ 31,996 $ 1.97 2-a) Compute accounts receivable turnover. 2-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 Required 2A 2B Compute accounts receivable turnover. Accounts Receivable Turnover Choose Numerator: 1 Choose Denominator: 1 Accounts Receivable Turnover Accounts receivable turnover times times Current Yr: 1 Yr Ago: 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 $ 32,125 $ 37,551 $ 37,596 Accounts receivable, net 89, 100 62,800 50,000 Merchandise inventory 112,500 83,500 50,000 Prepaid expenses 10, 345 9,857 4,177 Plant assets, net 284,557 262,005 226,927 Total assets $528,627 $455, 713 $368, 700 Liabilities and Equity Accounts payable $135,577 $ 79,326 $ 50, 128 Long-term notes payable secured by mortgages on plant assets 102,363 107,958 83,927 Common stock, $10 par value 162,500 162,500 162,500 Retained earnings 128, 187 105,929 72, 145 Total liabilities and equity $528,627 $455,713 $368,700 The company's income statements for the Current Year and 1 Year Ago, follow. Assume that all sales are on credit: For Year Ended December Current Yr 31 Sales $687,215 Cost of goods sold $419, 201 Other operating 213,037 expenses Interest expense 11,683 Income tax expense 8,934 Total costs and 652,855 expenses Net income $ 34, 360 Earnings per share $ 2.11 1 Yr Ago $542,298 $352,494 137,201 12,473 8,134 510,302 $ 31,996 $ 1.97 2-a) Compute accounts receivable turnover. 2-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 Required 2A 2B For each ratio, determine if it improved or worsened in the current year. Accounts receivable turnover 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 $ 32, 125 $ 37,551 $ 37,596 Accounts receivable, net 89, 100 62,800 50,000 Merchandise inventory 112,500 83,500 50,000 Prepaid expenses 10, 345 9,857 4, 177 Plant assets, net 284,557 262,005 226, 927 Total assets $528,627 $455,713 $368,700 Liabilities and Equity Accounts payable $135,577 $ 79,326 $ 50,128 Long-term notes payable secured by mortgages on plant assets 102,363 107,958 83,927 Common stock, $10 par value 162,500 162,500 162,500 Retained earnings 128, 187 105,929 72,145 Total liabilities and equity $528,627 $455,713 $368, 700 The company's income statements for the Current Year and 1 Year Ago, follow. Assume that all sales are on credit: 1 Yr Ago $542,298 For Year Ended December Current Yr 31 Sales $687,215 Cost of goods sold $419, 201 Other operating 213,037 expenses Interest expense 11,683 Income tax expense 8,934 Total costs and 652,855 expenses Net income $ 34, 360 Earnings per share $ 2.11 $352,494 137,201 12,473 8,134 510,302 $ 31,996 $ 1.97 (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 Required 3B For each ratio, determine if it improved or worsened in the current year. Inventory turnover