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 $ 27,141 89,100 111,500 8,740 210,135 $ 446,616 $ 31,725 $ 31,764 62,600 51,200 82,000 59,000 8,328 3,529 200, 361 166,007 $ 385,014 $ 311,500 $ 114,544 $ 67,019 $ 42,352 86,483 162,500 83,089 $ 446,616 91,210 70,907 162,500 162,500 64,285 35,741 $385,014 $ 311,500 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 Earnings per share Current Yr $ 580, 601 $ 354,167 179,986 9,870 7,548 551,571 $ 29,30 1 Yr Ago $ 458, 167 $ 297,809 115,916 10,538 6,873 431,136 $ 27,031 $ 1.66 $ 1.79 (2-a) Compute accounts receivable turnover. (2-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 2A Required 2B The company sincome Statements for the current redi dnu i redi Ago, 10110W. Assureuriat dll dies are on Cred. 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 $ 580,681 $ 354,167 179,986 9,870 7,548 551,571 $ 29,030 $ 1.79 1 Yr Ago $ 458, 167 $ 297,809 115,916 10,538 6,873 431,136 $ 27,031 Earnings per share $ 1.66 (2-a) Compute accounts receivable turnover. (2-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 2A Required 2B Compute accounts receivable turnover. Accounts Receivable Turnover Choose Numerator: 1 Choose Denominator: Accounts Receivable Turnover = Accounts receivable turnover Current Yr: 1 times 1 Yr Ago: times Required 2B >