Exercise 13-9 (Algo) Analyzing and interpreting liquidity LO P3 [The following information applies to the questions displayed below.] Simon Company's year-end balance sheets follow. At December 31...

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Extracted text: Exercise 13-9 (Algo) Analyzing and interpreting liquidity LO P3 [The following information applies to the questions displayed below.] Simon Company's year-end balance sheets follow. At December 31 Current Yr 1 Yr Ago 2 Yrs Ago Assets $ 25,199 89,800 113,500 8,115 203,699 $ 440,313 $ 29,455 $ 62,900 83,000 7,732 196,493 $ 379,580 $ 326,100 Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net 31,315 50, 200 56,000 3,479 185,106 Total assets Liabilities and Equity Accounts payable Long -term notes payable Common stock, $10 par value Retained earnings $ 106,349 ৪০,295 162,500 91,169 41,754 69,906 162,500 51,940 $ 379,580 $ 326,100 $ 62,225 $ 84,684 162,500 70,171 Total liabilities and equity $ 440,313 The company's income statements for the current year and one year ago follow. Assume that all sales are on credit: For Year Ended December 31 1 Yr Ago $ 451,700 Current Yr Sales $ 572,407 Cost of goods sold Other operating expenses Interest expense $ 349,168 177,446 9,731 7,441 $ 293,605 114, 280 10,389 6,776 Income tax expense Total costs and expenses 543,786 $ 425,050 $ 26,650 Net income 28,621 Earnings per share $ 1.76 1.64


Extracted text: Exercise 13-9 (Algo) Part 1 (1-a) Compute days' sales uncollected. (1-b) For each ratio, determine if it improved or worsened the current year. Complete this question by entering your answers in the tabs below. Required 1A Required 1B Compute days' sales uncollected. Days' Sales Uncollected I Choose Denominator: Choose Numerator: Days Days' Sales Uncollected X Days' sales uncollected Current Yr: days X 1 Yr Ago: days < required="" a="" required="" 1b="">