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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 AE 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 $ 33,563 89, 200 110,500 10,808 313,642 $557,713 $ 39,232 $ 39,665 62,200 51,300 84,500 51,000 10,298 4,407 284,557 246,428 $ 480,787 $ 392,800 $141,648 $ 82,678 $ 52,887 106,947 162,500 146,618 $557,713 112,793 88,545 162,500 162,500 122,616 88,868 $ 480,787 $ 392,800 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 $ 725,027 $ 442,266 224,758 12,325 9,425 688,774 $ 36,253 $ 2.23 1 Yr Ago $ 572, 137 $ 371,889 144,751 13,159 8,582 538,381 $ 33,756 $ 2.08 (2-a) Compute accounts receivable turnover. (2-b) For each ratio, determine if it improved or worsened in the current year. (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 28 Compute accounts receivable turnover. Accounts Receivable Turnover Choose Numerator: 1 Choose Denominator: 1 Accounts Receivable Turnover Accounts receivable turnover times Current Yr: ! 1 Yr Ago: 1 times Required 28 > (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 28 For each ratio, determine if it improved or worsened in the current year. Accounts receivable turnover

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