Saved Current yr 1 Yr AGO 2 Yrs Ago 2 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 $ 29,476 $ 34, 455 $ 35, 256 89,500 62,900 51,400 114,000 84,000 56,000 9, 492 9,044 4,028 267,318 249,072 226,016 $509,786 $ 439,471 $ 373,700 art 2 of 4 $124,398 $ 72,785 $ 48,342 8 01:45:25 93, 923 162,500 128,965 $509,786 99, 057 80,936 162,500 162,500 105, 129 81,922 $ 439,471 $ 373, 700 The company's income statements for the current Year and 1 Year Ago follow. Assume that all soles are on credit: For Year Ended December 31 Current Yr 1 Yr Ago Sales 5 662,722 $ 522,970 Cost of goods sold $ 404,200 $ 339,931 other operating expenses 205, 444 132,311 Interest expense 11, 266 12,028 Income tax expense 8,615 7,845 Total costs and expenses 629.505 492, 115 Net Income $ 33, 137 $ 30,855 Earnings per share 2.04 $ 1.90 $ (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 2A Required 28 Compute accounts receivable turnover. Accounts Receivable Turnover Choose Numerat erator: Choose Denominator: Accounts Receivable Turnover Accounts receivable turnover ma Cura V