[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 Current Year 1 Year Ago 2 Years Ago $ 28,720 85,737 $ 34,243 60,512 102,565 8,971 260,789 90,600 $ 486,782 $ 119,997 Long-term notes payable Common stock, $10 par value Retained earnings Total liabilities and equity 163,500 112,685 76,081 8,812 239,992 $ 419,640 $ 68,792 94,587 162,500 93,761 $ 486,782 $ 419,640 For both the current year and one year ago, compute the following ratios: $ 34,967 46,160 48,664 3,885 216,024 $ 349,700 $ 45,237 78,829 162,500 63,134 $ 349,700 The company's income statements for the current year and one year ago follow. Assume that all sales are on credit: For Year Ended December 31 Sales Cost of goods sold Interest expense Other operating expenses Income tax expense Current Year $ 632,817 $ 386,018 196,173 10,758 8,227 601,176 $ 31,641 1 Year Ago $ 499,372 $ 324,592 126,341 11,486 7,491 469,910 $ 29,462 $ 1.81 Total costs and expenses Net income Earnings per share (1-a) Compute days' sales uncollected. $ 1.95 (1-b) Determine if days' sales uncollected improved or worsened in the current year. (2-a) Compute accounts receivable turnover. (2-b) Determine if accounts receivable 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.