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 $ 28,30 89, see 113, eee 9,027 235,233 $ 475,898 $ 32,765 $ 33,789 62,400 50, 4ee 82,500 55,880 8,601 3,754 223, 294 198,357 $ 499,560 $ 341,380 $ 118, 297 s 69,216 5 45,852 89, 317 162,500 104,976 $475,090 94, 199 75,427 162,580 162,5ee 83,645 58,321 $ 499,560 $ 341,380 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 $ 617,617 $ 376,746 191,461 10,499 8,829 586,735 $ 30,882 1 Yr Ago $ 487,376 $ 316,794 123, 306 11, 210 7,311 458,621 $ 28,755 $ 1.90 $ 1.77 Exercise 13-8 Part 2 (2-a) Compute accounts receivable turnover. (2-6) 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 2A Required 28 Compute accounts receivable turnover. Accounts Receivable Turnover Choose Numerator: 1 Choose Denominator: Accounts Receivable Turnover 1 Accounts receivable turnover 1 = times Current Yr: 1 Yr Ago: 1 times