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Simon Company's year-end balance sheets follow. At December 31 Current Year 1 Year Ago 2 Years Ago Assets Cash $ 35, 122 $ 41, 054

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Simon Company's year-end balance sheets follow. At December 31 Current Year 1 Year Ago 2 Years Ago Assets Cash $ 35, 122 $ 41, 054 $ 41, 104 Accounts receivable, net 89,500 62, 600 51,900 Merchandise inventory 113,500 82, 000 59,000 Prepaid expenses 11, 310 10,777 4,567 Plant assets, net 328,517 301, 801 246,529 Total assets $ 577,949 $ 498, 232 $ 403, 100 Liabilities and Equity Accounts payable $ 148,227 $ 86, 727 $ 54, 805 Long-term notes payable 111,914 118, 031 91, 758 Common stock, $10 par value 162,500 162, 500 162,500 Retained earnings 155, 308 130,974 94, 037 Total liabilities and equity $ 577,949 $ 498, 232 $ 403, 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 Current Year 1 Year Ago Sales $ 751, 334 $ 592, 896 Cost of goods sold $ 458, 314 $ 385, 382 Other operating expenses 232,914 150, 093 Interest expense 12, 773 13, 637 Income tax expense 9,767 8, 893 Total costs and expenses 713, 768 557,915 Net income $ 37,566 $ 34,981 Earnings per share $ 2.31 $ 2. 15(2-a) Compute accounts receivable turnover. (2-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 2A Required 2B Compute accounts receivable turnover. Accounts Receivable Turnover Numerator: 1 Denominator: = Accounts Receivable Turnover Accounts receivable turnover Current Year: times 1 Year Ago: times

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