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ter $13$: Lecture & Practice Assignments

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Compute the annual dollar changes and percent changes for each of the following accounts.

Note: Decreases should be indicated with a minus sign. Round percent change to one decimal place.

$\backslash$table$[[,$Current Year,Prior Year$],[$Short$-$term investments,$$374,634,$$$234,000$ Computer the annual dollar changes and changes for each of the following accountsSteps for

Lecture & Practice.

Class Managerial...

Fraud and Internal.

Analysis of Financi...

Analysis of Financ..

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Lecture & Practice Assignments

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Required information

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Simon Company's year$-$end balance sheets follow.

$\backslash$table$[[$At December $31,$Current Year,$1$ Year Ago,$2$ Years Ago$],[$Assets$],[$Cash$,$$ $31,800,$$ $35,625,$$ $37,800],[$Accounts receivable, net,$89,500,62,500,50,200],[$Merchandise inventory,$112,500,82,500,54,000],[$Prepaid expenses,$10,700,9,375,5,000],[$Plant assets, net,$278,500,255,000,230,500],[$Total assets,$ $523,000,$$ $445,000,$$ $377,500],[$Liabilities and Equity$],[$Accounts payable,$ $129,900,$$ $75,250,$$ $51,250],[$Long$-$term notes payable,$98,500,101,500,83,500],[$Common stock, $$10$ par value,$163,500,163,500,163,500],[$Retained earnings,$131,100,104,750,79,250],[$Total liabilities and equity,$ $523,000,$$ $445,000,$$ $377,500]]$

The company's income statements for the current year and one year ago follow. Assume that all sales are on credit:

$(1-$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 $1$ A

Required $1B$

Compute days' sales uncollected.

$\backslash$table$[[$Days$\text{'}$ Sales Uncollected$],[,$Numerator:,$1,$Denominator:,$x,$Days,$=,$Days' Sales Uncollected$],[,,,1,,x,,=,$Days' sales uncollected$],[$Current Year:,$$,411,225,1,,x,,=,0,$days$],[1$ Year Ago:,,,$1,,x,,=,0,$days$]]$

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