Refer to the Simon Company information in Exercise 17-7. The companys income statements for the years ended

Refer to the Simon Company information in Exercise 17-7. The company’s income statements for the years ended December 31, 2014 and 2013 follow. Assume that all sales are on credit and then compute:

(1) Days’ sales uncollected,

(2) Accounts receivable turnover,

(3) Inventory turnover,

(4) Days’ sales in inventory.

Comment on the changes in the ratios from 2013 to 2014. (Round amounts to one decimal.)
In Exercise 17-7, Simon Company’s year-end balance sheets follow. Express the balance sheets in common- size percents. Round amounts to the nearest one- tenth of a percent.

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At December 3l Assets Cash Accounts receivable, net. Merchandise inventory 2014 2013 2012 31,800 35,625 37,800 89,500 62,500 50,200 12,500 2,500 54,000 5,000 278,500 255,000 230,500 $523,000 $445,000 $377,500 .. 10,700 9.375 Plant assets, net.... Total assets Liabilities and Equity Long-term notes payable secured by mortgages on plant assets.. 98.500 101,500 83,500 79,250 .. .. $523,000 $445,000 $377,500 Total liabilities and equity . . . . . . . .