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 $ 29,436 89, 200 114,000 9,480 266,988 $ 509,104 $ 34,408 $ 36,208 62,800 50,200 84,000 56,000 9,032 4,023 248,643 226,769 $ 438,883 $ 373,209 $ 124,232 $ 72,688 $ 48,277 93,797 162,500 128,575 $509,104 98,924 89,828 162,500 162,500 184,771 81,595 $ 438,883 $ 373,200 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 o pense Income tax expense Total costs and expenses Not income Earnings per share Current Yr $ 661,835 $ 403,719 205,160 11,251 3.60 628,743 $ 23.09 5 2.04 1 Yr At $ 522,271 339,476 132,135 12,012 2014 30,14 $ (3-0) Compute inventory turnover (3-4) 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 A Required 38 -ook Compute inventory turnover. Inventory Turnover Choose Numerator: 1 Choose Denominator Inventory Turnover Inventory turnover Current Yr 1 Yr Ago: Required 30 >