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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 $ 35,610 89, 100 114,000 11,468 359,484 $ 609,662 $ 41,625 $ 43,360 62,700 50, 300 83,500 51, eee 10,927 4,818 326,819 292,922 $ 525,571 $ 442,400 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 $ 150, 288 $ 87,933 $ 57,813 113,470 162,500 183,404 $ 609,662 119,673 96, 793 162,500 162,500 155,465 125, 294 $ 525,571 $ 442,400 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 Earnings per share Current Yr $ 792,561 $ 483,462 245,694 13,474 10,383 752,933 $ 39,628 $ 2.44 1 Yr Ago $ 625,429 $ 406,529 158,234 14,385 9, 381 588,529 $ 36,900 $ 2.27 (2-a) Compute accounts receivable turnover. (2-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 2A Required 2B Compute accounts receivable turnover. Accounts Receivable Turnover Choose Denominator: Choose Numerator: Accounts Receivable Turnover Accounts receivable turnover times Current Yr: 1 Yr Ago: times Required 2A Required 28 >

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