Simon Company's year-end balance sheets follow. Current Yr 1 Yr Ago 2 Yrs Ago At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net $ 34,173 89,900 115,000 11,005 323, 397 $573,475 $ 39,946 $ 40,786 62,100 50,300 85,000 52,000 10,486 4,532 296,843 260, 282 Total assets $ 494,375 $ 407,900 $144,223 $ 84,385 $ 54,381 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 108,891 162,500 157,861 $573,475 114,843 91,047 162,500 162,500 132,647 99,972 $ 494,375 $ 407,900 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 Current Yr $ 745,518 $ 454,766 231,111 12,674 9,692 708,243 $ 37,275 1 Yr Ago $ 588, 306 $ 382,399 148, 841 13,531 8,825 553,596 $ 34,710 Net income Earnings per share $ 2.29 $ 2.14 Compute inventory turnover. Inventory Turnover Choose Numerator: 1 Choose Denominator: Il Inventory Turnover / II Inventory turnover Current Yr: 1 0 times 1 Yr Ago: / II 0 times Required 3A Required 3B > Required 3A Required 3B For each ratio, determine if it improved or worsened in the current year. Inventory turnover