Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable Long-term notes payable secured by s 31,207 $ 36,479 37,998 62,700 56,500 113,500 85,000 50,000 4,222 290,125 266,833 238,980 534,282 460,588 387,700 89,400 9,576 10,050 s 131,706 77,061 50,665 mortgages on plant assets Common stock,$10 par value 99,441104,876 84,825 162,500 162,500 162,500 89,710 534,282 $460, 588 387,700 140,635 116,151 Total liabilities and equity The company's income statements for the years ended December 31, 2017 and 2016, follow. Assume that all sales are on credit 2017 2016 $ 694,567 Sales Cost of goods sold Other operating expenses Interest expense Income taxes Total costs and expenses Net income $ 548,100 s 423,686 215,316 11,808 9,029 $ 356,265 138,669 12,606 8,222 659, 839 $ 34,728 S 2.14 515,762 32,338 9 Earnings per share Exercise 13-8 Part 1 (1) Compute days' sales uncollected. x Days Days' Sales Unc Choose Denominator Choose Numerator: Days Sales U days 2017: 2016