HW U loved $523,000 $445,000 $377,500 $ 129,900 $ 75,250 $ 51,250 Total assets 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 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, 2018 and 2017, follow. Assume that all sales credit: For Year Ended December 31 Sales Cost of goods sold Other operating expenses Interest expense Income tax expense Total costs and expenses Net income 2018 $ 673,500 $411,225 209,550 12,100 9,525 642,400 $ 31,100 2017 $ 532,000 $345,500 134,980 13,300 8.845 502,625 $ 29,375 Earnings per share $ 1.90 $ 1.80 Exercise 13-8 Part 4 (4) Compute days' sales in inventory. Days' Sales In Inventory Choose Denominator: * Choose Numerator: Days - Days' Sales In Inventory Days' sales in inventory days days 2018: 2017: HW U loved $523,000 $445,000 $377,500 $ 129,900 $ 75,250 $ 51,250 Total assets 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 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, 2018 and 2017, follow. Assume that all sales credit: For Year Ended December 31 Sales Cost of goods sold Other operating expenses Interest expense Income tax expense Total costs and expenses Net income 2018 $ 673,500 $411,225 209,550 12,100 9,525 642,400 $ 31,100 2017 $ 532,000 $345,500 134,980 13,300 8.845 502,625 $ 29,375 Earnings per share $ 1.90 $ 1.80 Exercise 13-8 Part 4 (4) Compute days' sales in inventory. Days' Sales In Inventory Choose Denominator: * Choose Numerator: Days - Days' Sales In Inventory Days' sales in inventory days days 2018: 2017