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SImon Company's year-end balance sheets follow. For both the current year and one year ago, compute the following ratios: Exercise 17-8 (Algo) Analyzing and interpreting
SImon Company's year-end balance sheets follow. For both the current year and one year ago, compute the following ratios: Exercise 17-8 (Algo) Analyzing and interpreting liquidity LOP3 The company's Income statements for the current year and one year ago follow. Assume that all sales are on credit: (1-a) Compute days' sales uncollected. (1-b) Determine If days' sales uncollected Improved or worsened In the current year. (2-a) Compute accounts recelvable turnover. (2-b) Determine If accounts recelvable turnover ratio Improved or worsened In the current year. (3-a) Compute Inventory turnover. (3-b) Determine If Inventory turnover ratio Improved or worsened in the current year. (4-a) Compute days' sales In Inventory. (4-b) For each ratio, determine if days' sales In Inventory Improved or worsened in the current year. Complete this question by entering your answers in the tabs below
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