Simon Company's year-end balance sheets follow Current Ye 1 Ye A 2 Yrs Ago 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 secured by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity $ 31,800 89,500 112,500 10,700 278,500 $ 523,000 $ 35,625 $ 37,890 62,500 50,200 82,500 54,000 9,375 5,000 255,000 230,500 $ 445,000 $ 377,500 $ 129,900 $ 75,250 $ 51,250 98,500 163,500 131, 100 $ 523,000 101,500 83,500 163,500 163,500 104,750 79,250 $445,000 $377,500 The company's income statements for the Current Year and 1 Year Ago, follow. Assume that all sales are on credit: Fan Year Ended December 31 Sales Cost of goods sold Other operating expenses Interest expense Income tax expense Current Yr 5673,500 $411,225 209,550 12,100 9,525 1 yr Ago $ 532,000 $345,500 134,980 13,300 8,845 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 Sales Cost of goods sold Other operating expenses Interest expense Income tax expense Total costs and expenses Net income Earnings per share Current Yr $673,500 $411,225 289,550 12,100 9,525 642,400 $ 31,180 1 YEAR 5 532,000 $345,500 134,989 13,300 8,845 502,625 $ 29,375 $ 1.80 $ 1.90 (4-6) 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 (4-a) Compute days' sales in inventory (4-6) 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. Days' Sales In Inventory Choose Denominator: X Choose Numerator: Days X = Days' Sales In Inventory Days' sales in inventory days days Current Yr: 1 Yr Ago: X Required 48 > (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 For each ratio, determine if it improved or worsened in the current year. Days sales in inventory