Exercise 13-8 Liquidity analysis and interpretation LO P3 [The following information applies to the questions displayed below Simon Company's year-end balance sheets follow Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets $ 31,80 35,625 $37,800 89,500 62,568 50,280 112,5e0 82,5e 54,00 18,780 9,375 5,000 278,500255,890 238,500 $523,800 $445,000377,560 Liabilities and Equity Accounts payable Long-term notes payable secured by $129,900 $ 75,250 $ 51,258 mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity 93,500 101,500 83,580 163, 500 163,50e 163,500 131,100 14,7579,25e $523,000 $445,080 377,580 The company's income statements for the years ended December 31, 2017 and 2016, follow Assume that all sales are on credit Sales Cost of goods sold Other operating expenses Interest expense Income taxes Total costs and expenses Net income $ 673,580 532,000 411,225 209,558 12,180 9,525 $345,586 134,98 13,380 8,845 642,400 $ 31,106 $ 1.9e 502,625 5 29,375 Earnings per share 5 1.88 Exercise 13-8 Part 1 (1) Compute days' sales uncollected Days Sales Uncollected l Choose Denominator xDays Days Sales Uncollected = 1 Days' Sales Uncollected Choose Numerator 2017 2016: days days