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 $ 32,231 89,800 110,500 10,379 320,275 $ 563,185 $ 37,675 $ 40,054 62,100 51,600 83,500 53,000 9,899 4,450 292,339 267,996 $ 485,504 $ 417,100 $ 136,026 $ 79,589 $ 53,405 102,702 162,500 161,957 $ 563,185 108, 316 89,414 162,500 162,500 135,099 111,781 $ 485,504 $ 417,100 The company's income statements for the Current Year and 1 Year Ago, follow. Assume that all sales are on credit: ho 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 $ 732,141 $ 446,606 226,964 12,446 9,518 695,534 $ 36,607 $ 2.25 1 Yr Ago $ 577,750 $ 375,538 146,171 13,288 8,666 543,663 $ 34,087 $ 2.10 Required information Complete this question by entering your answers in the tabs below. Required 3A Required 3B Compute inventory turnover. Inventory Tumover 1 Choose Denominator: Choose Numerator: Inventory Turnover Inventory turnover times Current Yr: 1 Yr Ago: times Required 3B > Required information (3-a) Compute inventory turnover. (3-b) 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 For each ratio, determine if it improved or worsened in the current year. Inventory turnover