Simon Company's year-end balance sheets follow. Current Yr 1 Yr Ago 2 Yrs ago $ 24,691 89,800 110,500 7,945 189,466 $ 422,382 $ 28,838 $ 30,040 62,600 51,400 84,000 56,000 7,570 3,338 181,114 165,722 $ 364,122 $ 306,500 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 $104,121 $ 60,921 $ 40,053 78,614 162,500 77,147 $422,382 82,911 67,059 162,500 162,500 57,790 36.888 $364,122 $ 306,500 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 Current Yr $ 549,097 $ 334,949 170,220 9,335 7,138 521.642 $ 27,455 s 1.69 1 Yr Ago $ 433,305 $ 281,648 109,626 9.966 6.500 407,740 $ 25,565 $ 1.57 Next > Earnings per share 8 of 13 !!! 5 6 7 Required 18 Next > CO of 13 !!! 5 6 7 6 7 8 of 13 of 13 !!! B. (4-a) Compute days' sales in inventory. (4-6) For each ratio, determine if it improved or worsened in the current year. of 4 Complete this question by entering your answers in the tabs below. Required 4A Required 4B ook Compute days' sales in inventory. Int int Choose Numerator: Days' Sales In Inventory Choose Denominator: x Days ences Days' Sales In Inventory Days' sales in inventory 0 days 0 days X Current Yr: 1 Yr Ago: Required 48