Question

Simon Company’s year-end balance sheets follow.

At December 31	Current Yr					1 Yr Ago			2 Yrs Ago
Assets
Cash		$	33,501			$	39,160		$	40,792
Accounts receivable, net			89,100				62,600			50,000
Merchandise inventory			113,500				83,500			59,000
Prepaid expenses			10,789				10,280			4,532
Plant assets, net			326,667				298,906			261,876
Total assets		$	573,557			$	494,446		$	416,200
Liabilities and Equity
Accounts payable		$	141,388			$	82,726		$	54,389
Long-term notes payable secured by mortgages on plant assets			106,750				112,585			91,060
Common stock, $10 par value			162,500				162,500			162,500
Retained earnings			162,919				136,635			108,251
Total liabilities and equity		$	573,557			$	494,446		$	416,200

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 Yr Ago
Sales				$	745,624					$	588,391
Cost of goods sold	$	454,831					$	382,454
Other operating expenses		231,143						148,863
Interest expense		12,676						13,533
Income tax expense		9,693						8,826
Total costs and expenses					708,343						553,676
Net income				$	37,281					$	34,715
Earnings per share				$	2.29					$	2.14

Compute days' sales uncollected.

	Days' Sales Uncollected Choose Numerator: / Choose Denominator: x Days = Days' Sales Uncollected / x = Days' Sales Uncollected Current Yr: / x = 0 days 1 Yr Ago: / x = 0 days

Compute accounts receivable turnover.

Accounts Receivable Turnover Choose Numerator: / Choose Denominator: = Accounts Receivable Turnover / = Accounts receivable turnover Current Yr: / = times 1 Yr Ago: / = times

Compute inventory turnover.

	Inventory Turnover Choose Numerator: / Choose Denominator: = Inventory Turnover / = Inventory turnover Current Yr: / = times 1 Yr Ago: / = times

Compute days' sales in inventory.

	Days’ Sales In Inventory Choose Numerator: / Choose Denominator: x Days = Days’ Sales In Inventory / x = Days’ sales in inventory Current Yr: / x = days 1 Yr Ago: / x = days

Answer 1

Note: Final answers are rounded to 1 Decimal as it's not mentioned in question.