Simon Company's year-end balance sheets follow.

At December 31

Assets

Current Year

1 Year Ago

2 Years Ago

Cash

Accounts receivable, net Merchandise inventory

Prepaid expenses

Plant assets, net

$24,897

89,200

113,000

8,018

191,125

$29,102 62,400

85,000

7,639

183,307

$ 30,314

51,900

53,000

3,368

170,718

Total assets

$ 426,240

$367,448

$309,300

Liabilities and Equity

Accounts payable

Long-term notes payable

Common stock, $10 par value

Retained earnings

Total liabilities and equity

$ 105,072

79,332

162,500

79,336

$ 61,478 83,668

162,500

59,802

$ 40,419

67,672

162,500

38,709

$ 426,240

$367,448

$309,300

The company’s income statements for the current year and one 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

Current Year

$ 554,112

338,008

171,775

9,420

7,203

526,406

1 Year Ago

$ 437,263

$284,221

110,628 10,057

6,559

Net income

411,465

$ 27,706

Earnings per share

$ 25,798

$ 1.70

$1.59

Exercise 13-8 (Algo) Part 1 [Alternate Version]

(1-a) Compute days' sales uncollected

(1-b) For each ratio, determine if it improved or worsened in the current year

(2-a) Compute accounts receivable turnover.

(2-b) For each ratio, determine if it improved or worsened in the current year.

(3-a) Compute inventory turnover.

(3-b) For each ratio, determine if it improved or worsened in the current year

(4-a) Compute days' sales in inventory.

(4-b) For each ratio, determine if it improved or worsened in the current year.

[The following information applies to the questions displayed below.] Simon Company's year-end balance sheets follow. The company\’s income statements for the current year and one year ago follow. Assume that all sales are on credit: Exercise 13-8 (Algo) Parr 1 [Alternate Version] (1-a) Compute days' sales uncollected. (1-b) For each ratio, determine if it improved or worsened in the current year. (4-a) Compute days' sales in inventory. (4-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. Compute days' sales in inventory