$ 532,000 For Year Ended December 31 Sales Cost of goods sold Other operating expenses Interest expense Income taxes Total costs and expenses Net income 2017 $673,500 $ 411, 225 209,550 12,100 $345,500 134,980 13.300 642,400 502,625 31,100 Earnings per share (4) Compute days' sales in inventory. Days' Sales In Inventory Choose Denominator: * Days - Days' Sales In Inventory Choose Numerator: Accounts receivable, net 2017: 2016: Cost of goods sold Days' sales in inventor 411225 days 345.500 Required information [The following information applies to the questions displayed below.) Simon Company's year-end balance sheets follow. 2017 2016 2015 At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total asets 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 $ 31,800 $ 35,625 $ 37,800 89,500 62,500 50,200 112,500 82,500 54,000 10.700 9.375 5,000 278,500 255,000 230.500 $523,000 $445,000 $377,500 $129,900 $ 75,250 $ 51,250 98,500 101,500 83,500 163,500 163,500 163,500 131,100 104,750 79,250 $523,000 $445,000 $377,500 The company's income statements for the years ended December 31, 2017 and 2016, follow. Assume that all sales are on credit: 2016 $673,500 $ 532.000 For Year Ended December 31 Sales Cost of goods sold Other operating expenses Interest expense Income taxes Total costs and expenses Net Income $411,225 209,550 12.100 9,525 $345.500 134,980 13.300 8,845 642,400 $ 31,100 502.625 29,375 Earnings per share $