Part 4 of 4 14.28 points Skipped eBook Hint Print References Required information [The following information applies to the questions displayed below] Simon Company's year-end balance sheets follow. At December 31 Assets Current Ye 1 Yr Ago 2. Yrs Ago Cash Accounts receivable, net Merchandise inventory $ 31,366 89,400 $36,664 $ 10,979 63,000 50,500 112,000 54,000 57,000 Prepaid expenses 9,624 4,331 Plant assets, net 10,101 305,196 279,180 255,090 Total assets $548,063 $ 472,468 $ 405,900 Liabilities and Equity Accounts payable $ 132,374 $ 77,452 $ 51,971 Long-term notes payable secured by mortgages on plant assets 99,945 105,405 87,013 162,500 162,500 162,500 Common stock, $10 par value Retained earnings 153,244 127,108 104,416 Total liabilities and equity $ 548,063 $ 472,468 $ 405,900 The company's income statements for the Current Year and 1 Year Ago, follow. Assume that all sales are on credit Current Yr 1 Ye Ago $ 562,237 For Year Ended December 31 Sales $ 712,482 $ 434,614 $365,454 KAN MAC Cost of goods sold 134 ten nahan sak of 7 < Prev 6 Next 6 Part 4 of 4 14.28 points Skipped eBook Hint Print References Mc The company's income statements for the Current Year and 1 Year Ago, follow. Assume that all sales are on credit Year Ended December 31 Current Y Sales Cost of goods sold 3712,482 $ 567,237 Other operating expenses Interest expense $ 434,614 220,869 12,112 9,262 1 YA $365,454 142,246 12,931 8,434 Income tax expense 676,8157 Total costs and expenses Net Income 529,665 $ 33,172 35,625 Earnings per share 2.19 5 2.04 (4-0) Compute days' sales in inventory (4-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 4A Required 48 Compute days' sales in inventory. Days' Sales In Inventory Days Days Sales In Inventory Days' sales in inventory Choose Numerator: Next > Choose Denominator: < Prev $ x 6 ay of 7 impen Work 6 Part 4 of 4 14.28 points Skipped eBook Hint Print References Mc Smil Quier operating expenses Interest expense Income tax expense Total costs and expenses Net Income 676.857 35,625 Earnings per share $ 2.19 (4-0) Compute days' sales in inventory. (4-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 4A Required 48 Compute days' sales in inventory. Days' Sales In Inventory Days Current Yr: 1 Yr Ago: 220,009 12,1121 9,262 Choose Nurnerator: Choose Denominator: I I 1 < Prev $ B60 x x X X 247,299 12,931 8,434 of 7 529,065 $ 33,172 $ 2.04 Days' Sales In Inventory Days' sales in inventory 0 days 0 days # = M Required 48 > Next > Help Save & Exit 6 Part 4 of 4 14.28 points Skipped eBook Hint Print References (4-0) Compute days' sales in inventory. (4-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 4A Required 48 For each ratio, determine if it improved or worsened in the current year. Days' salas in inventory < Required 4A Repaired AS