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 $ 26,667 89,300 113,000 8,588 219,002 $ 456,557 $ 31,172 $ 32,471 63,000 50,600 83,000 57,000 8,183 3,608 208,229 187,621 $ 393,584 $ 331,300 $112,546 $ 65,851 $ 43, 294 84,974 162,500 96,537 $ 456,557 89,619 72,485 162,500 162,500 75,614 53,021 $ 393,584 $ 331,300 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 $ 593,524 $ 362,050 183,992 10,090 7,716 563, 848 29,676 1 Yr Ago $ 468, 365 $ 304, 437 118,496 10,772 7,025 440, 730 $ 27,635 1.83 $ 1.70 (3-a) 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 3B Compute inventory turnover. Inventory Turnover Choose Numerator: 1 Choose Denominator: = Inventory Turnover 1 = Inventory turnover / times Current Yr: 1 Yr Ago: times