Requirea information (The following information applies to the questions displayed below.) Simon Company's year-end balance sheets follow. 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 $ 32,633 $ 38,145 $ 40,553 89, 100 62, 100 53,700 112,000 82,500 58,000 10,509 10,013 4,506 325,954 293.799 265, 541 $ 570,206 $ 491,557 $ 422,300 $ 137,722 $ 80,581 $ 54,071 103,983 109,666 90,528 162,500 162,500 162,500 166,001 138,810 115, 201 $570,206 $ 491,557 $ 422,300 The company's income statements for the years ended December 31, 2017 and 2016, follow. Assume that all sales are on credit For Year Ended December 31 Sales Coat of goods sold Other operating expenses Interest expense Income taxes Total costs and expenses Net income Earnings per share 2017 $ 741,268 $ 452,173 229,793 12,602 9.636 704,204 $ 37,064 S 2.28 2016 $ 584,953 $ 380,219 147,993 13,454 3,774 550, 440 $ 34,513 $ 2.12 (3) Compute inventory turnover. Inventory Turnover Choose Numerator: 7 Choose Denominator: Cost of goods sold Average inventory 2017: $ 452,173/ 2016: $ 380,219 Inventory Turnover Inventory turnover es 0 times 0 times