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[The following information applies to the questions displayed below.] Simon Company's year-end balance sheets follow. The company's income statements for the current year and one
[The following information applies to the questions displayed below.] Simon Company's year-end balance sheets follow. The company's income statements for the current year and one year ago follow. Assume that all sales are on credit Required 18> Accounts Receivable Turnover \begin{tabular}{|l|l|l|l|l|l|l|} \hline \multicolumn{1}{l|}{ Numerator: } & Denominator: & Accounts Receivable Turnover \\ \hline & & 1 & Accounts receivable furnover \\ \hline Current Year: & & 1 & & = & times \\ \hline 1 Year Ago: & & & times \\ \hline \end{tabular} Inventory Turnover Current Year: 1 Year Ago: \begin{tabular}{r|c|c|c|} \hline 1 & Denominator: & = & Inventory Turnover \\ \hline 1 & = & Inventory turnover \\ \hline 1 & & = & times \\ \hline 1 & & & times \\ \hline \end{tabular}
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