Save Required information [The following information applies to the questions displayed below) Simon Company's year-end balance sheets follow Corrent Yr 1 TO 2 Yrs Ago At December 31 Assets Cash Accounts receivable. net Merchandise inventory Prepaid expensen Plant assets, bet Total asset Liabilities and Equity Accounts payable Long-term notes payable secured by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity $ 35,060 89,500 115,000 11,291 343,254 $594,245 $40.982 $ 42,263 62,500 50,700 83,500 56,000 10.758 4,696 314,540 273,241 $ 512,280 5 426.900 $147.967 111,715 162.500 172.060 $594, 245 $ 86,575 556,351 117,824 94,345 162,500 162,500 145.381 113,704 5 512,280 $426,900 The company's income statements for the Current Year and 1 Year Ago, follow. Assume that all sales are : 5772,519 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 $ 471,237 239,481 13,133 10.043 1 T Ago $ 609, 613 $ 396,248 154,232 14,022 9.144 573,645 $ 35,968 $ 2.21 733.894 $38.625 $ 2.31 & 1 5 6 7 Saved Help 233,194 $38.625 total costs and expo The icon Taninge per share 57,645 $ 35,56 $ 2:21 5 2.38 14 (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 2Required 28 Compute accounts receivable turnover. Choose Numaraton Not amles) 5 Accounts Receivable Tu Cheese Denemington Aptage accounts receivabinet 772,519 609.610 Accounts Receivable Turnover Accounts receivable umover Current Y fYr Age: oms Required 28 > DO $ 4 2 3 5 6 7 B E R T Y U 0 S D F G H J L