II L a sny > yedi VOICIILE DICE TUIUVY. 2017 2016 2015 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 mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity $ 31,800 $ 35,625 $ 37,800 89,500 62,500 50,200 112,500 82,508 54, eee 10,700 9,375 5,000 278,500 255,000 230,500 $523,000 $445,000 $377,5ee $129,900 $ 75,250 $ 51,250 98,500 101, 50e 83,5ee 163,500 163,500 163,500 131, 100 194,750 79,250 $523,000 $445, eee $377,500 The company's income statements for the years ended December 31, 2017 and 2016, follow. Assume that all sales are on credit: Print erences For Year Ended December 31 Sales Cost of goods sold Other operating expenses Interest expense Income taxes Total costs and expenses Net income Earnings per share 2017 $673,500 $411, 225 209,55 12, 100 9,525 642,400 $ 31, 100 2016 $532,000 $345,500 134,980 13,300 8,845 502,625 $ 29, 375 I $ 1.99 $ 1.80 The company's income statements for the years ended December 31, 2017 and 2016, follow. Assume that all sale credit: For Year Ended December 31 Sales Cost of goods sold Other operating expenses Interest expense Income taxes Total costs and expenses Net income Earnings per share 2017 $673,500 $411,225 209,550 12,100 9,525 642,400 $ 31,100 $ 1.90 2016 $532,000 $345,500 134,980 13,300 8,845 502,625 $ 29, 375 $ 1.80 Exercise 13-8 Part 1 (1) Compute days' sales uncollected. Days' Sales Uncollected 1 Choose Denominator: Choose Numerator: x Days - Days' Sales Uncollected Days' Sales Uncollected days 2017: 2016: days