[The following information applies to the questions displayed below.] Simon Company's year-end balance sheets follow. 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 Current Yr 1 Yr Ago 2 Yrs Ago $ 29,081 $ 33,994 $ 35,771 89,900 62,800 51,700 112,500 82,000 58,000 9,365 8,923 3,975 262,120 245,874 219,254 $ 502,966 $ 433,591 $ 368,700 $ 122,734 $ 71,811 $ 47,695 92,666 162,500 125,066 $ 502,966 97,731 162,500 79,853 162,500 101,549 78,652 $ 433,591 $ 368,700 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 $ 653,856 1 Yr Ago $ 515,973 $ 398,852 202,695 11,116 8,500 $ 335,382 130,541 11,867 7,740 621,163 $ 32,693 $ 2.01 485,530 $ 30,443 $ 1.87 (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. Current Yr: 1 Yr Ago: Choose Numerator: Accounts Receivable Turnover Choose Denominator: = Accounts Receivable Turnover = Accounts receivable turnover = times times < Required 2A Required 2B > (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. Current Yr: 1 Yr Ago: Choose Numerator: Accounts Receivable Turnover Choose Denominator: = Accounts Receivable Turnover = Accounts receivable turnover = times times < Required 2A Required 2B >