Simon Company's year-end balance sheets follow. At December 31 Assets Cash Accounts receivable, net Merchandise inventory...
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Simon Company's year-end balance sheets follow. 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 Common stock, $10 par value Retained earnings Total liabilities and equity $ 36,484 50,300 Current Year 1 Year Ago 2 Years Ago $ 30,872 89,100 111,500 $ 36,086 62,300 83,000 9,473 251,372 $442,231 9,942 271,574 $ 512,988 $ 130, 289 98,371 162,500 121,828 $ 512,988 $ 76,232 103,747 162,500 99,752 $442,231 58,000 4,054 212,462 $ 361,300 $ 48,645 81,444 162,500 68,711 $ 361,300 The company’s income statements for the current year and one year ago follow. Assume that all sales are credit: For Year Ended December 31 Sales Cost of goods sold Other operating expenses Interest expense Income tax expense Total costs and expenses Net income Earnings per share Current Year $ 666,884 $ 406,799 206,734 11,337 8,669 1 Year Ago $ 526,255 $ 33,345 $ 342,066 133,143 12,104 7,894 633,539 $2.05 495,207 $ 31,048 $ 1.91 (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 1A Required 1B Compute days' sales uncollected. Simon Company's year-end balance sheets follow. 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 Common stock, $10 par value Retained earnings Total liabilities and equity $ 36,484 50,300 Current Year 1 Year Ago 2 Years Ago $ 30,872 89,100 111,500 $ 36,086 62,300 83,000 9,473 251,372 $442,231 9,942 271,574 $ 512,988 $ 130, 289 98,371 162,500 121,828 $ 512,988 $ 76,232 103,747 162,500 99,752 $442,231 58,000 4,054 212,462 $ 361,300 $ 48,645 81,444 162,500 68,711 $ 361,300 The company’s income statements for the current year and one year ago follow. Assume that all sales are credit: For Year Ended December 31 Sales Cost of goods sold Other operating expenses Interest expense Income tax expense Total costs and expenses Net income Earnings per share Current Year $ 666,884 $ 406,799 206,734 11,337 8,669 1 Year Ago $ 526,255 $ 33,345 $ 342,066 133,143 12,104 7,894 633,539 $2.05 495,207 $ 31,048 $ 1.91 (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 1A Required 1B Compute days' sales uncollected.
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