Required information Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.] Simon Company's year-end balance sheets follow. 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, $10 par value Retained earnings Total liabilities and equity Current Year 1 Year Ago 2 Years Ago $ 33,190 94,308 118,575 10,688 294,749 $ 551,510 $ 134,579 104,721 163,500 148,710 $ 551,510 $ 38,035 $38,439 65,896 52,821 85,318 56,823 10,084 276,107 $ 475,440 $ 81,153 108,258 163,500 122,529 $ 475,440 For both the current year and one year ago, compute the following ratios: Exercise 13-8 (Algo) Analyzing and interpreting liquidity LO P3 4,402 243,715 $ 396,200 $ 52,298 85,809 163,500 94,593 $ 396,200 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 Current Year $716,963 Year Ago $ 565,774 Cost of goods sold Other operating expenses $437,347 222,259 Interest expense Income tax expense 12,188 9,321 $367,753 143,141 13,013 8,487 Total costs and expenses Net incone 681,115 $ 35,848 532,394 $33,380 Earnings per share $2.21 $2.05 (1-a) Compute days' sales uncollected. (1-b) Determine if days' sales uncollected improved or worsened in the current year. (2-a) Compute accounts receivable turnover (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, Complete this question by entering your answers in the tabs below. Required 1A Required 18 Required 2A Required 28 Required 3A Required 38 Required 4A Required 48