Saved current Yr 1 Y ADD: 2 Yrs Ago 5 29,476 89,500 114,000 9, 492 267,318 $509,786 $ 34,455 5 38,256 62,900 51,400 84,000 56,000 9,044 4,028 249,072 226, 016 $ 439,471 $373, 700 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 secured by mortgages on plant assets common stock, $10 par value Retained earnings Total liabilities and equity $124,398 $ 72, 765 $ 45,342 93, 923 162,500 128,965 $509,786 99,052 30,936 162,500 162,500 105, 129 81.922 3 439, 471 $ 373, 700 The company's income statements for the Current Year and 1 Year Ago, follow. Assume that all sales ore 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 Earnings per share Ourrent Yr $ 662,722 $ 404, 260 205,444 11,266 8,635 629,585 $ 33,137 31112.04 1 Yr Ago $ 522,970 $ 339.933 132,311 12,028 7,845 492, 115 $ 30,855 $ 1.90 (4-a) Compute days' sales in Inventory (4-6) 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 4A Required 48 Compute days' sales in inventory. Days Sales In Inventory Choose Numerator: 1 Choose Denominator: x Days = Days 'Sales In Inventory Days sales in inventory o days Current Yr: 1 x 3