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 $ 23,422 89,200 114,000 7,543 175,092 $ 409,257 $ 27,378 62,800 83,500 7,187 171,943 $ 352,808 $ 29,107 50,600 53,000 3,234 167, 159 $ 303, 100 $ 98,848 74,632 162,500 73,277 $409,257 $ 57,836 78,711 162,500 53, 761 $352,808 $ 38,809 64,976 162,500 36,815 $ 303, 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 Sales Cost of goods sold Other operating expenses Interest expense Income tax expense Total costs and expenses Net income Earnings per share Current Year $ 532,034 $ 324,541 164,931 9,045 6,916 505,433 $ 26,601 $1.64 1 Year Ago $ 419,842 $ 272,897 106,220 9,656 6,298 395,071 $ 24,771 $ 1.52 (3-0) Compute Inventory turnover. (3-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 3A Required 3B Compute inventory turnover. Inventory Turnover Denominator: Numerator: Inventory Turnover Inventory turnover Current Year: times 1 Year Ago: times