The following information applies to the questions displayed below Simon Company's year-end balance sheets follow Current Year At December 21 Assets Cash Accounts receivable, et Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable Long term notes payable Common stock, $10 par value Retained earnings Total liabilities and equity 533232 92.261 119.90 10.700 29 5552212 1 Yr Ago 2 Years Ago 536.941 $40.577 67.979 52 365 6300 56.332 10-297 4453 2051 250.773 476.045 5404 800 $ 1386 105.092 162.500 144.544 5552.212 $3647 09.00 162500 94408 5 476.045 553.560 87572 152.500 1000 5 400 300 7. Award 10.00 points 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 Current Year 1 Year Age Sales 37177 Cost of goods sold $ 437.904 $268.221 Other operating expenses 222542 563.323 Interest expense 12.204 13.029 Income tax expense 9.332 8497 Total costs and expenses 681 SB2 533070 Net income $ 3594 533.624 Earnings per share 5221 S205 (1-a) Compute days' sales uncollected (1-1) Determine if days' sales uncollected improved or worsened in the current year (2-a) Compute accounts receivable tumover (2-b) Determine if accounts receivable turnover ratio improved or worsened in the current year (3-a) Compute inventory tumover (3-6) Determine if inventory turnover ratio improved or worsened in the current year (4.a) Compute days' sales in inventory (4-6) 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. Required 24 seguired 10 Repared 2A Required 20 Resures 34 Requires a Rede Recured Compute days' sales uncollected Dan Sales Uncollected Numerator: Denominator Days Days Sales Uncollected Da colected Current Year: 1 Year Agar Required 18 > 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 Current Year 1 Year Ago Sales $ 717,876 $ 566,494 Cost of goods sold $ 437,904 $368,221 Other operating expenses 222,542 143,323 Interest expense 12,204 13,029 Income tax expense 9,332 8,497 Total costs and expenses 681,982 533,070 Net income $ 35,894 $ 33,424 Earnings per share $ 2.21 $ 2.06 (1-a) Compute days' sales uncollected. (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 (4-6) 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. Required 2A Required 2B Required 3A Required 3B Required 4A Required 1A Required 18 Required 48 Determine if days' sales uncollected improved or worsened in the current year. Days' sales uncollected (1-a) Compute days' sales uncollected (1-6) 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. (3-6) Determine if inventory tumover ratio improved or worsened in the current year. (4-a) Compute days' sales in inventory. (4-6) 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. Required 1A Required 1B Required 2A Required 28 Required 3A Required 38 Required 4A Required 48 Compute accounts receivable turnover. (Round your answers to the nearest whole number.) Accounts Receivable Turnover Denominator: Numerator: Accounts Receivable Turnover Accounts receivable tumover times times 1 Current Year: 1 Year Ago: (1-a) Compute days' sales uncollected. (1-b) Determine if days' sales uncollected improved or worsened in the current year. (2-a) Compute accounts receivable turnover. (2-6) 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. (4-6) 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. Required 1A Required 1B Required 2A Required 2B Required 3A Required 3B Required 4A Required 4B Determine if accounts receivable turnover ratio improved or worsened in the current year. Accounts receivable turnover (1-a) Compute days' sales uncollected. (1-1) Determine if days' sales uncollected improved or worsened in the current year. (2-a) Compute accounts receivable turnover. (2-6) Determine if accounts receivable tumover ratio improved or worsened in the current year, (3-a) Compute inventory turnover. (3-6) Determine if inventory turnover ratio improved or worsened in the current year. (4-a) Compute days' sales in inventory (4-6) 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. Required 4B Required 1A Required 1B Required 2A Required 28 Required 3A Required 38 Required 4A Compute inventory turnover. (Round your answers to the nearest whole number.) Inventory Turnover Numerator: Denominator: Inventory Turnover Inventory tumover Current Year: times 1 Year Ago: 1 times References Expanded table Difficulty: 3 Hard Leaming Objective: 13-P3 Deline and apply ratio (1-a) Compute days' sales uncollected. (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 tumover 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 (4-6) 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. Required 4B Required 1A Required 18 Required 2A Required 28 Required 3A Required 38 Required 4A Determine if Inventory turnover ratio improved or worsened in the current year. Inventory turnover (Required 3A Required 4A > (1-a) Compute days' sales uncollected (1-5) 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 tumover. (3-6) Determine if inventory tumover ratio improved or worsened in the current year. (4-a) Compute days' sales in inventory (4-6) 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. Required 1A Required 13 Required 2A Required 28 Required 3B Required 3A Required 4A Required 43 Compute days' sales in inventory. Days' Sales In Inventory Denominator: 1 Numerator Days Days Sales In Inventory Days' sales in inventory days days Current Year: 1 Year Ago: 1 1