5 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 2017 2016 2015 $ 34,341 40,141 40,986 57,400 52,000 4,554 254,960 $ 576,287 496,799409,900 Part 3 of4 89,600 112,000 11,059 329,287 62,400 85,000 10,537 298,721 2 points Liabilities and Equity Accounts payable Long-term notes payable secured by 144,930$84,799 54,648 02:01.14 mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity 91,494 162,500 134,094101,258 $ 576,287 496,799 $ 409,900 109,425 162,500 162,500 159,432 115,406 eBook The company's income statements for the years ended December 31, 2017 and 2016, follow. Assume that all sales are on credit: Hint For Year Ended December 31 Sales Cost of goods sold Other operating expenses Interest expense Income taxes Total costs and expenses Net income 2017 2016 $749,173 $591,191 456,996 232,244 12,736 9,739 S 384,274 149,571 13,597 8,868 Print 711,715 $ 37,458 2.31 556,310 $ 34,881 2.15 Earnings per share (3) Compute inventory turnover Choose Numerator: Choose Denominator: Inventory Turnover Inventory turnover 2017: imes 2016: imes