Required information Exercise 17-8 Liquidity analysis and interpretation LO P3 [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 $ 23,828 $ 27,853 $ 29,310 89,700 62,300 54,600 112,500 83,500 52,000 7,674 7,311 3,257 178,411 174,306 162,933 $ 412,113 $ 355, 270 $ 302,100 $ 100,564 $ 58,840 $ 39,080 75,928 80,078 65,429 162,500 162,500 162,500 73, 121 53,852 35,091 $ 412, 113 $ 355, 270 $ 302,100 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 2017 2016 Sales $ 535, 747 $ 422,771 Cost of goods sold $ 326,806 $ 274,801 Other operating expenses 166,082 106,961 Interest expense 9, 108 9,724 6 212 6065 9, 108 6,965 9,724 6,342 Interest expense Income taxes Total costs and expenses Net income Earnings per share 508,961 $ 26,786 $ 1.65 $ 397,828 24,943 1.53 Exercise 17-8 Part 1 (1) Compute days' sales uncollected. Days' Sales Uncollected Choose Numerator: | Choose Denominator: Days Days' Sales Uncollected Days' Sales Uncollected o days 0 days 2017: 2016