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 $ 30,359 89,400 112,500 9,777 283,029 $ 525,065 $ 35,487 62,200 85,000 9,315 260,640 $ 452,642 $ 37, 343 50,100 52,000 4,149 241,308 $ 384,900 $ 128,126 96,738 162,500 137,701 $ 525,065 $ 74,967 102,026 162,500 113,149 $ 452,642 $ 49,791 83,362 162,500 89, 247 $ 384,900 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 Current Year $ 682,585 $ 416,377 211,601 11,604 8,874 648, 456 $ 34,129 1 Year Ago $ 538,644 $ 350,119 136,277 12,389 8,080 506,865 $ 31,779 Net income Earnings per share $ 2.10 $ 1.96 (3-a) 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 / II Current Year: / = times 1 Year Ago: / II times (3-a) 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 For each ratio, determine if it improved or worsened in the current year. Inventory turnover