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 $ 28,030 89,800 113,000 9,027 235, 233 $475,090 $ 32,765 $ 33,789 62,400 50,400 82,500 55,000 8,601 3,754 223, 294 198, 357 $ 409,560 $ 341,300 $118,297 $ 69,216 $ 45,052 89, 317 162,500 104,976 $475,090 94, 199 75,427 162,500 162,500 83,645 58,321 $ 409,560 $ 341,300 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 $ 617,617 $ 376, 746 191, 461 10,499 8,029 586,735 $ 30,882 $ 1.90 1 Yr Ago $ 487,376 $ 316,794 123, 306 11, 210 7,311 458,621 $ 28,755 $ 1.77 Exercise 13-8 Part 3 (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 / Inventory turnover Current Yr: 1 times times 1 Yr Ago: Required 3A Required 3B > (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