[The following information applies to the questions displayed below.) Simon Company's year-end balance sheets follow. Current Yr 1 Yr Ago 2 Yrs Ago 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 $ 26,499 89,900 112,500 8,534 207,260 $ 444,693 $ 30,975 $ 31,627 62,400 51,600 84,000 60,000 8,131 3,514 197,850 169,559 $ 383, 356 $ 316,300 $ 111,836 $ 65,435 $ 42,169 84,438 162,500 85,919 $ 444,693 89,054 70,601 162,500 162,500 66,367 41,030 $ 383, 356 $ 316,300 The company's income statements for the Current Year and 1 Year Ago, follow. Assume that all sales 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 $ 578,101 $352,642 179,211 9,828 7,515 549, 196 28,905 1.78 1 yr Ago $ 456,194 $ 296,526 115,417 18, 492 6,843 429, 278 $ 26,916 $ 1.66 Dru Next Exercise 13-8 Part 3 (3-a) Compute inventory turnover. (3-6) 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 3A Required 3B Compute inventory turnover. Inventory Tumover Choose Numerator: 1 Choose Denominator: Inventory Turnover 11 Inventory turnover Current Yr: O times 1 Yr Ago: 1 11 0 times Required 3B > Exercise 13-8 Part 4 (4-a) Compute days' sales in inventory (4-6) 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 4A Required 48 Compute days' sales in inventory. Days Sales In Inventory Choose Denominator Choose Numerator 1 Days X Days' Sales In Inventory Days' sales in inventory 0 days 0 days Current Yr: 1 Yr Ago: X Required 4B >