2017 2016 2015 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 secured by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity $ 26,021 5 30,416 $ 32,007 89,500 62,600 52,900 111,500 82,500 59,000 8,380 7,984 3,556 214,635 204, 462 182,437 $ 450,036 $ 387,962 $ 329,900 $ 109,818 $ 64,254 $ 42,676 82,915 B7,447 71,450 162,500 162,500 162,500 94,803 73,761 53, 274 $ 450,036 5387,962 $ 329,900 The company's income statements for the years ended December 31, 2017 and 2016, follow. Assume that all sales are on 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 $ 585,047 $ 356,879 181,365 9,946 7,606 555,796 $ 29, 251 $ 1.80 2016 $ 461,675 $ 300,089 116,804 10,619 6,925 434,437 $ 27,238 $ 1.68 (3) Compute inventory turnover. Choose Numerator: Inventory Turnover 1 Choose Denominator: 1 Inventory Turnover Inventory tumover times 2017: 2016: timos