Required information [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 $ 27,351 89,900 112,500 8,808 215,931 $ 454,490 31,971 $ 32,324 62,600 50,500 82,500 55,000 8,392 3,592 206,339 178,684 $ 391,802 $ 320,100 $ 115,431 $ 67,539 $ 43,098 87,153 162,500 89,406 $ 454, 490 91,917 72,157 162,500 162,500 69,846 42,345 $ 391,802 $ 320,100 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 Current Yr $ 590,837 $ 360,411 183, 159 10,044 1 Yr Ago $ 466, 244 $ 303,059 117,960 10,724 Total liabilities and equity $ 454, 490 $ 391,802 $ 320,100 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 Current Yr $ 590,837 $ 360,411 183, 159 10,044 7,681 561,295 $ 29,542 $ 1.82 1 Yr Ago $ 466, 244 $ 303,059 117,960 10,724 6,994 438,737 $ 27,507 $ 1.69 Earnings per share 2-a) Compute accounts receivable turnover. 2-b) For each ratio, determine if it improved or worsened in the current year