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 Current Year 1 Year Ago 2 Years Ago $ 23,734 89,500 111,500 7,643 178,098 $ 410,475 75,626 162,500 72,185 $ 27,742 63,000 $ 29, 193 51,600 84,000 7,282 171, 834 $ 353,858 79,760 162,500 52,992 $ 100,164 $ 58, 606 Long-term notes payable Common stock, $10 par value Retained earnings Total liabilities and equity $ 410,475 $ 353,858 51,000 3,244 165,863 $ 300,900 $ 38,924 65, 169 162,500 34,387 $ 300, 900 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 Earninne nor chara Current Year $533,618 1 Year Ago $ 421,091 $ 325,507 $ 273,709 165,422 9,072 6,937 506, 938 $ 26,680 $ 1.64 106,536 9,685 6,316 396,246 $ 24,845 $ 1.53 Net income Earnings per share $ 26,680 $ 1.64 (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. Required 4A Required 4B Compute days' sales in inventory. Current Yr: 1 Yr Ago: $ 24,845 $ 1.53 Days' Sales In Inventory Numerator: T Denominator: Days Days' Sales In Inventory 1 Days' sales in inventory I days I x days