Simon Companys year-end balance sheets follow. At December 31 Current Yr...

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Accounting

Simon Companys year-end balance sheets follow.

At December 31 Current Yr 1 Yr Ago 2 Yrs Ago
Assets
Cash $ 31,217 $ 36,490 $ 37,630
Accounts receivable, net 89,300 62,500 50,200
Merchandise inventory 111,000 83,500 53,000
Prepaid expenses 10,053 9,579 4,181
Plant assets, net 287,529 264,051 235,089
Total assets $ 529,099 $ 456,120 $ 380,100
Liabilities and Equity
Accounts payable $ 131,746 $ 77,084 $ 50,173
Long-term notes payable 99,471 104,908 84,002
Common stock, $10 par value 162,500 162,500 162,500
Retained earnings 135,382 111,628 83,425
Total liabilities and equity $ 529,099 $ 456,120 $ 380,100

The companys income statements for the current year and one year ago follow. Assume that all sales are on credit:

For Year Ended December 31 Current Yr 1 Yr Ago
Sales $ 687,829 $ 542,783
Cost of goods sold $ 419,576 $ 352,809
Other operating expenses 213,227 137,324
Interest expense 11,693 12,484
Income tax expense 8,942 8,142
Total costs and expenses 653,438 510,759
Net income $ 34,391 $ 32,024
Earnings per share $ 2.12 $ 1.97
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(1-a) Compute days' sales uncollected. (1-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 1A Required 1B Compute days' sales uncollected. Days' Sales Uncollected Choose Numerator: | Choose Denominator: Days = = Days' Sales Uncollected Days' sales uncollected / Current Yr: 1 = 0 days 0 days 1 Yr Ago: 1 X II (3-a) Compute inventory turnover. (3-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 3A Required 3B Compute inventory turnover. Inventory Turnover Choose Numerator: | Choose Denominator: = Inventory Turnover Inventory turnover II Current Yr: / = times 1 Yr Ago: II times

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