Simon Company's year-end balance sheets follow 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 Current Year 1 Year Ago 2 Years Ago $ 35,625 62,500 $ 31,800 89,500 112,500 10,700 278,500 $ 523,000 $ 129,900 98,500 163,500 131,100 $ 523,000 82,500 9,375 255,000 $ 445,000 $ 75,250 101,500 163,500 104,750 $ 445,000 $ 37,800 50,200 54,000 5,000 230,500 $ 377,500 $51,250 83,500 163,500 79,250 $ 377,500 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 $ 673,500 $411,225 209,550 12,100 9,525 642,400 ** 1 Year Ago $532,000 $ 345,500 134,980 13,300 8,845 502,625 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 Net income Earnings per share Current Year $ 673,500 5 411,225 209,550 12,100 9,525 642,400 $:31,100 $1,90 1 Year Ago $532,000 $ 345,500 134,980 13,300 8,845 502,625 $ 29,375 $ 1.00 (4-0) Compute days' sales in inventory (4-b) For each ratio, determine if it improved or worsened in the current year Required 4A Required 481 Compute days sales in inventory. Days Sales In Inventory Current Year: 1 Year Ago: Numerator: Denominator: Days -Days' Sales In Inventory x Days sales in inventory days days Required 4B > Complete this question by entering your answers in the tabs below. Required 4A Required 4B For each ratio, determine if it improved or worsened in the current year. Days' sales in inventory