Simon Companys year-end balance sheets follow. For an answer to be correct, you must use...
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Simon Companys year-end balance sheets follow.
For an answer to be correct, you must use an Excel formula:
Begin each formula with an = sign.
Reference cells, instead of entering values.
Example: =B3+C3
Simon Company's year-end balance sheets follow. The company's income statements for the current year and one year ago follow. Assume that all sales are on credit: For both the current year and one year ago, compute the following ratios: (1-a) Compute days' sales uncollected. (1-b) Determine if days' sales uncollected improved or worsened in the current year. (2-a) Compute accounts receivable turnover. (2-b) Determine if accounts receivable turnover ratio improved or worsened in the current year. (3-a) Compute inventory turnover. (3-b) Determine if inventory turnover ratio improved or worsened in the current year. (4-a) Compute days' sales in inventory. (4-b) For each ratio, determine if days' sales in inventory improved or worsened in the current year
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