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Simon Company's year-end balance sheets follow. At December 31 Current Yr 1 Yr Ago 2 Yrs Ago Assets Cash 0 31,950 0 32,359 $ 39,313

Simon Company's year-end balance sheets follow.

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At December 31 Current Yr 1 Yr Ago 2 Yrs Ago Assets Cash 0 31,950 0 32,359 $ 39,313 Accounts receivable, net 09,500 62,100 50,100 Merchandise inventory 114,500 02,000 59,000 Prepaid expenses 10,292 9,002 4,350 Plant assets, net 306,505 205,249 252,419 Total assets $552.25? $ 425,515 $ 405,200 Liabilities and Equity Accounts payable $134,004 $ 20,920 $ 52,41? Long-term notes payable secured by mortgagee on plant assets 101,040 107,406 07,250 Common stock, $10 par value 162,500 162,500 162,500 Retained earnings 153,533 122,509 102,525 Total liabilities and equity $552,252 $ 426,515 $ 405,200 The company's income statements for the Current Year and 1 Year Ago. follow. Assume that all sales are on credit: For Year Ended December 31 Current Yr 1 Yr Ago Sales 0 210,504 0 55?,053 Cost of goods sold 0 430,336 0 360,504 Other operating expenses 222,261 143,454 Interest expense 12,216 13,042 Income tax expense 9,342 0,506 Total costs and expenses 502,555 533,595 Net incong $ 35,929 0 33,45? Earnings per share 3 2.21 0 2.05 (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 Choose Numerator: / Choose Denominator: Accounts Receivable Turnover = Accounts receivable turnover Current Yr: times 1 Yr Ago: times [2-4:] Compute accounts receivable turnover. {2-bit For each ratio. determine if it improved or worsened in the current year. Complete this question by entering your answer: In the tab: below. Required 2A Required 23

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