Simon Company's year-end balance sheets follow. Current Year 1 Year ago 2 Years 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 Common stock, $10 par value Retained earnings Total liabilities and equity $ 24,651 89,900 112,500 7,938 195,738 $430,727 $ 28,814 62,900 83,500 7,564 188, 538 $ 371,316 $ 30,634 50, 300 59,000 3,464 175,662 $ 319,000 $ 104,033 78,542 162,500 85,647 $430, 727 $ 60,870 82,841 162.589 65,105 $ 371,316 $.40,845 68,384 162,500 47,271 $ 319,000 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 Current Year $ 559,945 $ 341, 566 173,583 9,519 7.229 531,947 $ 27,998 1 Year Ago $441,866 $ 287, 213 111 792 10,163 6.628 415,796 $ 26,070 $ 1.60 Earnings per share $1.22 Exercise 13-8 (Algo) Part 2 (Alternate Version] (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 28 Compute accounts receivable turnover, Accounts Receivable Turnover