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 $ 32,221 $ 37,663 $ 37,709 89,200 62,800 51,900 110,500 83,000 57,000 10,376 9,886 4,190 287,908 263,724 219,001 $530,205 $ 457,073 $ 369,800 $ 135,982 $ 79,563 $50,278 102,669 108,281 84,178 162,500 162,500 162,500 129,054 106,729 72,844 $530,285 $ 457,073 $ 369,800 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 2017 2016 Sales $ 689,267 $ 543,917 Cost of goods sold $ 420,453 $ 353,546 Other operating expenses 213,673 137,611 Interest expense 11,718 12,510 Income taxes 8,960 8,159 Total costs and expenses 654,804 511,826 Net income $ 34,463 $ 32,091 $ 2.12 $ Earnings per share 1.97 (1) Compute days' sales uncollected Days Sales Uncollected Choose Numerator: 1 Choose Denominator: Days Days' Sales Uncollected Days' Sales Uncollected 11 1 1 x = 2017: 2016: O days o days 1 X (2) Compute accounts recelvable turnover. Accounts Receivable Turnover 1 Choose Denominator: Choose Numerator: Accounts Receivable Tumover Accounts recolvablo turnover times times 2017: 2016: (3) Compute inventory turnover. Inventory Turnover 1 Choose Denominator: Choose Numerator: = Inventory Turnover Inventory turnover times 2017: 2016: 11 times (4) Compute days' sales in Inventory. Days' Sales In Inventory Choose Numerator: I Choose Denominator: x Days 11 X X 11 Days' Sales In Inventory Days' sales in inventory O days 0 days 2017: X 2016: X =