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 $ 28,684 89,280 114,880 9,237 235,620 $ 476,641 $ 33,529 $ 33,899 62, 100 51, see 85,00 56, eee 8,891 3,767 221,467 190, 534 $ 410,897 $ 335,709 $ 121,957 $ 70,838 $ 45,199 91,401 162,580 101,683 $ 476,641 96,396 75,673 162,500 162,500 81,171 52,328 $ 419,897 $ 335,700 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 $ 619,633 $ 377,976 192,885 18,534 8,055 588,651 $ 38,982 1 Yr Ago $ 488,967 $ 317,829 123,789 11,246 7.335 469,119 28,848 $ $ 1.91 $ 1.78 (3-0) Compute inventory turnover. (3-6) 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 38 Compute inventory turnover. Inventory Turnover Choose Denominator: Choose Numerator Inventory Turnover = Inventory turnover 1 Otimes Current Yr: 1 Yr Ago: 1 0 times Required a Required 3B >