4 of 4 Required information Exercise 17-8 Liquidity analysis and interpretation LO P3 [The following information applies to the questions displayed below.) Simon Company's year-end balance sheets follow. 2017 2016 2015 01:18:20 Book 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 earningo Total liabilities and equity $ 35,400 $ 41,380 $ 41,836 89,300 62,300 50,400 110,500 84,000 58,000 11,400 10,862 4,648 341,639 308,561 259,416 $ 588,239 $ 507,103 5 414,300 Hint Print $ 149,401 $ 87,414 $ 55,781 112,801 118,966 93,392 162,500 162,500 162,500 163,532 138,223 102,627 $ 588,239 $ 507,103 $414,300 The company's income statements for the years ended December 31, 2017 and 2016, follow. Assume that all sales are on credit: Help Save 7 The company's income statements for the years ended December 31, 2017 and 2016, follow. Assume that all sales are on credit: art 4 of 4 2017 $ 764,711 Yor 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 $ 466,474 237,060 13,000 9.941 2016 $ 603,453 $ 392,244 152,674 13,879 9,052 567,849 $ 35, 604 $ 2.19 726,475 $ 38,236 2.35 01:17:46 eBook Hint Exercise 17-8 Part 4 Print (4) Compute days' sales in inventory Days' Sales In Inventory Choose Denominator x Choose Numerator: Days 1 Days' Sales In Inventory Days' sales in inventory days days 2017: 2016: 1 1 SN