Saved Current Yr 1 Yr Ago 2 YS AGO B At 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, 510 par value Retained earnings Total liabilities and equity $ 29,476 89,500 114,000 9, 492 267, 318 $509, 736 $ 34, 455 $ 36, 256 62,900 S1,400 84,000 56,000 9,044 4,028 249.072 226,616 $ 439, 471 $ 373, 700 3 of 4 $124,398 $ 72, 785 $ 48, 342 01:44:44 93, 923 162,500 128, 955 $509,786 99,057 88,936 162,500 162,500 105, 129 81,922 $ 439,471 $ 373, 700 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 Current Yr 1 YAO Sales $ 662,722 $ 522,970 Cost of goods sold $ 404,260 $ 339,931 other operating expenses 205, 444 132,311 Interest expense 11,256 12,028 Income tax expense 8,615 7, B45 Total costs and expenses 629,585 492, 115 Net income $ 33, 137 $ 30,855 Earnings per share $ 2.04 $ 1.90 (3-a) Compute inventory turnover. (3-6) 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 3A Required 38 Compute inventory turnover Inventory Turnover Choose Numerator: | Choose Denominator: Inventory Turnover Inventory turnover Current Yr: times