Saved Help Save & Exit Submit Simon Company's year-end balance sheets follow, Current Year 1 Year Ago 2 Years Ago 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 $ 30,987 89,300 111,000 9,979 283,936 $ 525,202 $. 36,221 62,500 83,800 9.50 261,531 $452,760 $ 37, 353 51,700 58,000 4,150 226,097 537730 $ 130,775 98,738 162,500 133,189 $ 525,202 $ 76,516 104,135 162,50 109,609 $452,760 $ 49,804 83,38 162,500 81,61 $ 377,300 The romnany's Income statements for the current veanand one year and follow. Assume that all cales Next > Submit Homework Saved Help Save 6 Exit The company's income statements for the current year and one year ago follow. Assume that all sales are on credit 1 Year 3538,750 Current Year $.682,763 $ 416,485 211,657 11,687 8,876 648,625 $ 34, 138 $ 2.10 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 $350.210 136,312 12,392 3082 $ 31,750 (2-a) Compute accounts receivable turnover. (2.b) For each ratlo, determine if it improved or worsened in the current year Next > 31 PM 5 6 7 of 7 306202 nov Help Save & Submit Required information Required 2A Required 25 Compute accounts receivable turnover. Ascounts Receivable Tumover Numerator: Denominator Account ceva Tume Accounts receivable move Current Year: 1 Year Ago: OD 5 6 7 of 7 Next >