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 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 $ 32,351 89,800 114,500 10,418 285, 286 $532,355 $ 37,816 $ 37,861 63,000 51,400 82,500 57,000 9,927 4,207 265,684 220,832 $ 458,927 $ 371,300 $136,533 $ 79,885 $ 50,482 103,085 162,500 130,237 $532,355 108,720 84,519 162,500 162,500 107,822 73,799 $ 458,927 $ 371,300 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 $ 692,062 $ 422, 158 214,539 11,765 8,997 657,459 $ 34,603 1 Yr Ago $ 546,123 $ 354,980 138, 169 12,561 8,192 513,902 $ 32,221 $ 2.13 $ 1.98 Compute inventory turnover. Inventory Turnover Choose Numerator: | Choose Denominator: Inventory Turnover Inventory turnover Current Yr: 1 / 1 = times 1 Yr Ago: times For each ratio, determine if it improved or worsened in the current year. Inventory turnover