2015 $ 35,392 $ 41,369 $ 43,533 39,800 63,880 52,899 118,989 83,009 52,800 11,397 18,859 4,837 365,589 329,443 296,330 $612,898 $527,671 5448,789 Al Deer 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, $10 par value Retained earnings Total liabilities and equity $149,364 S 87,393 $ 58,844 112,773 118,937 97,179 162,500 162,509 162,500 187,461 158,841 130,977 $612,098 $527,671 $448,709 The company's income statements for the years ended December 31, 2017 and 2016, follow. Ass credit: For Year Ended December 31 Sales Cost of goods sold Other operating expenses Interest expense Income taxes Total costs and expenses Net income Earnings per share 2017 $795,727 $485, 393 246,675 13,527 10,344 755,939 $ 39,788 $ 2.45 2016 $627,928 $408,153 158,866 14,442 9,419 590,880 $ 37,648 $ 2.28 (3) Compute inventory turnover. Inventory Tumover Choose Numerator Choose Denominator Inventory Turnover