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 $ 26,021 89,700 112,500 8,380 213,435 $ 450,036 $ 30,416 $ 32,007 62,300 50,900 83,500 57,000 7,984 3,556 203,762 186,437 $ 387,962 $ 329,900 $109,818 $ 64,254 $ 42,676 82,915 162,500 94,803 $450,036 87,447 71,450 162,500 162,500 73, 761 53, 274 $ 387,962 $ 329,900 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 $ 585,047 $ 356,879 181,365 9,946 7,606 555,796 $ 29,251 1 Yr Ago $ 461,675 $ 300,089 116,804 10,619 6,925 434,437 $ 27,238 $ 1.80 $ 1.68 Exercise 13-8 Part 3 (3-a) Compute inventory turnover. (3-b) For each ratio, determine if it improved or worsened in the current year. (4-a) Compute days' sales in inventory. (4-6) 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 4A Required 4B Compute days' sales in inventory. Days' Sales In Inventory Choose Denominator: Choose Numerator: 1 Days 1 x Days' Sales In Inventory Days' sales in inventory days days Current Yr: = 1 Yr Ago: