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 $ 40,054 69,408 90,809 $ 33,259 99,314 121,196 10,710 304,919 10,308 280,281 $ 490,860 $ 39,694 54,529 58,085 4,410 248,282 $ 405,000 $ 569,398 $ 138,944 $ 85,444 109,188 162,500 158,766 $ 569,398 $ 490,860 $ 405,000 115,156 162,500 127,760 $ 51,856 87,715 162,500 102,929 For both the current year and one year ago, compute the following ratios: 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 (1-e) Compute days' sales uncollected. Current Year 1 Year Ago $ 740,217 $ 584,123 $ 451,532 229,467 $ 379,680 147,783 13,435 8,762 703,206 12,584 9,623 $ 37,011 $ 2.28 (1-b) Determine if days' sales uncollected improved or worsened in the current year. (2-0) Compute accounts receivable turnover. 549,660 $ 34,463 $ 2.12 (2-b) Determine if accounts receivable turnover ratio improved or worsened in the current year. (3-6) Compute inventory turnover. (3-b) Determine if inventory turnover ratio improved or worsened in the current year. (4-0) Compute days' sales in inventory. (4-b) For each ratio, determine if days' sales in inventory improved or worsened in the current year. Complete this question by entering your answers in the tabs below. Required 1A Required 18 Required 2A Required 2B Required 3A Required 3B Required 4A Required 4B Compute days' sales uncollected. Current Year: 1 Year Ago: Days' Sales Uncollected Numerator: Denominator: Days = Days' Sales Uncollected = Days' sales uncollected = 0 days 1 x = 0 days Required 1A Required 18