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Simon Companys year-end balance sheets follow.
| At December 31 | Current Year | 1 Year Ago | 2 Years Ago |
| Assets | | | |
| Cash | $ 29,632 | $ 34,638 | $ 35,366 |
| Accounts receivable, net | 89,300 | 62,000 | 50,300 |
| Merchandise inventory | 111,500 | 83,000 | 53,000 |
| Prepaid expenses | 9,543 | 9,092 | 3,930 |
| Plant assets, net | 257,298 | 239,954 | 211,104 |
| Total assets | $ 497,273 | $ 428,684 | $ 353,700 |
| Liabilities and Equity | | | |
| Accounts payable | $ 125,059 | $ 73,172 | $ 47,155 |
| Long-term notes payable | 94,422 | 99,583 | 78,949 |
| Common stock, $10 par value | 162,500 | 162,500 | 162,500 |
| Retained earnings | 115,292 | 93,429 | 65,096 |
| Total liabilities and equity | $ 497,273 | $ 428,684 | $ 353,700 |
The company’s income statements for the current year and one year ago follow. Assume that all sales are on credit:
| For Year Ended December 31 | Current Year | 1 Year Ago |
| Sales | | $ 646,455 | | $ 510,134 |
| Cost of goods sold | $ 394,338 | | $ 331,587 | |
| Other operating expenses | 200,401 | | 129,064 | |
| Interest expense | 10,990 | | 11,733 | |
| Income tax expense | 8,404 | | 7,652 | |
| Total costs and expenses | | 614,133 | | 480,036 |
| Net income | | $ 32,322 | | $ 30,098 |
| Earnings per share | | $ 1.99 | | $ 1.85 |
(1-a) Compute days' sales uncollected.
| Days' Sales Uncollected | | | Numerator: | / | Denominator: | | Days | = | Days' Sales Uncollected | | | | / | | | | = | Days' sales uncollected | | Current Year: | | / | | | | = | 0 | days | | 1 Year Ago: | | / | | | | = | 0 | days | |
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