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Simon Companys year-end balance sheets follow.

At December 31	Current Yr					1 Yr Ago			2 Yrs Ago
Assets
Cash		$	29,337			$	34,292		$	34,333
Accounts receivable, net			89,200				62,000			51,800
Merchandise inventory			110,500				83,500			57,000
Prepaid expenses			9,447				9,002			3,815
Plant assets, net			244,263				227,367			189,752
Total assets		$	482,747			$	416,161		$	336,700
Liabilities and Equity
Accounts payable		$	123,810			$	72,441		$	45,778
Long-term notes payable secured by mortgages on plant assets			93,479				98,589			76,643
Common stock, $10 par value			162,500				162,500			162,500
Retained earnings			102,958				82,631			51,779
Total liabilities and equity		$	482,747			$	416,161		$	336,700

The companys income statements for the Current Year and 1 Year Ago, follow. Assume that all sales are on credit:

For Year Ended December 31	Current Yr						1 Yr Ago
Sales				$	627,571					$	495,232
Cost of goods sold	$	382,818					$	321,901
Other operating expenses		194,547						125,294
Interest expense		10,669						11,390
Income tax expense		8,158						7,428
Total costs and expenses					596,192						466,013
Net income				$	31,379					$	29,219
Earnings per share				$	1.93					$	1.80

Exercise 13-8 Part 1

(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: x Days = Days' Sales Uncollected / x = Days' Sales Uncollected Current Yr: / x = 0 days 1 Yr Ago: / x = 0 days

• Required 1B

For each ratio, determine if it improved or worsened in the current year.

	Days' sales uncollected

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