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 2017 2015 $ 26,599 $31,092$ 31,435 56,300 52,000 3,493 202,731 194,177168,072 $ 441,996 381,031 $ 311,300 89,600 114,500 8,566 62,600 85,000 8,162 $ 112,258 $65,682 $ 41,913 mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity 70,173 162,500 162,500 162,500 36,714 $ 441,996 $ 381,031 $ 311,300 84,757 89,390 82,481 63,459 The company's income statements for the years ended December 31, 2017 and 2016, follow. Assume that all sales are on credit: 2017 2016 For Year Ended December 31 Sales Cost of goods sold Other operating expenses Interest expense Income taxes Total costs and expenses Net income 574,595 $ 453,427 $ 350,503 178,124 9,768 7,470 $ 294,728 114,717 10,429 6,801 426,675 $ 26,752 1.65 545,865 $ 28,730 Earnings per share Accounts Receivable Turnover Choose Numerator: Choose Denominator: Accounts Receivable Turnover Accounts receivable turnover times 2017: times 2016