Simon Company s year-end balance sheets follow. Current Yr 1 Yr Ago 2 Yrs 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 secured by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity $ 32,351 89,800 114,500 10,418 285, 286 $532,355 $ 37,816 $ 37, 861 63,000 51,400 82,500 57,000 9,927 4,207 265,684 220,832 $ 458,927 $ 371,300 $136,533 $ 79,885 $ 50,482 103,085 162,500 130,237 $532,355 108,720 84,519 162,500 162,500 107,822 73,799 $ 458,927 $ 371,300 The company's income statements for the Current Year and 1 Year Ago, follow. Assume that all sales are 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 Current Yr $ 692,062 $ 422,158 214,539 11,765 8,997 657,459 $ 34,603 1 Yr Ago $ 546,123 $ 354,980 138, 169 12,561 8,192 513,902 $ 32,221 Earnings per share $ 2.13 $ 1.98 Compute accounts receivable turnover. Accounts Receivable Turnover Choose Numerator: Choose Denominator: II Accounts Receivable Turnover II Accounts receivable turnover / / Current Yr: II times 1 Yr Ago: II times For each ratio, determine if it improved or worsened in the current year. Accounts receivable turnover