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 Current Yr 1 Yr Ago 2 Yrs Ago $ 24,478 $ 28,613 $ 29,805 89,600 110,500 62,900 50,500 84,500 57,000 7,883 7,511 3,312 186,613 177,747 163,483 $419,074 $ 361,271 $ 304,100 Liabilities and Equity Accounts payable $103,306 $ 60,444 $ 39,740 Long-term notes payable 77,998 82,261 66,534 Common stock, $10 par value 162,500 162,500 162,500 Retained earnings 75,270 Total liabilities and equity 56,066 35,326 $419,074 $ 361,271 $ 304,100 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 1 Yr Ago $429,912 Current Yr $ 544,796 Cost of goods sold $332,326 Other operating expenses 168,887 Interest expense 9,262 Income tax expense 7,082 $ 279,443 108, 768 9,888 6,449 Total costs and expenses Net income 517,557 $ 27,239 404,548 $ 25,364 Earnings per share $ 1.68 $ 1.56 (3-a) Compute inventory turnover. (3-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 3A Required 3B Compute inventory turnover. Current Yr: 1 Yr Ago: Inventory Turnover Choose Numerator: Choose Denominator: L Inventory Turnover = Inventory turnover / = times = times Required A Required 3B > (3-a) Compute inventory turnover. (3-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 3A Required 3B For each ratio, determine if it improved or worsened in the current year. Inventory turnover