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. 714 Cash 84,000 10,630 54,000 Prepaid expenses 57 Hint Accounts payable Common stock, $10 par value Retained earnings 162,500162,500 162,500 The company's income statements for the years ended December 31, 2017 and 2016, follow that all sales are on credit: 4 Cost of goods sold Interest expense Total costs and expenses 239,030 732-510 714 Net income 2.37 Exercise 13-8 Part 1 Exercise 13-8 Part2 (2) Compute accounts receivable turnover Accounts Recelvable Choose Numerator: Choose Denominator: Accounts Receivable Turnover s receivable turnover times 2017: 2016 Next> 5 6 7 of 14 MacBoc Exercise 13-8 Part 3 (3) Compute inventory turnover ver Choose Numerator:Choose Denominator: Inventory Turno Inventory turnover 2017: 2016: Prev 6 7 of 14 ill Next > acBoo Exercise 13-8 Part 4 (4) Compute days' sales in inventory. Da xDays Days' Sales In Inventory Days' sales in inventory Choose Numerator: Choose Denominator days days nces 2017: 2016 K Prev 7 of 14 Next>