Required information Part 2 of 4 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. points At December 31 Assets 2017 2015 2016 $ 33,579 $ 39,250 $ 40,076 57,400 58,000 4,453 240,871 Cash 89,000 112,000 10,813 Accounts receivable, net Merchandise inventory Prepaid expenses 63,000 83,500 10,303 eBook 318,101 289,717 Plant assets, net $ 563,493 $ 485,770 $ 400,800 Total assets Hint Liabilities and Equity $ 141,713 $ 82,916 $ 53,435 Accounts payable Long-term notes payable secured by mortgages on plant assets Common stock, $10 par value Retained earnings 106,996 89,463 112,844 162,500 Print 162,500 162,500 152,284 127,510 95,402 $ 563,493 $ 485,770 $ 400,800 Total liabilities and equity References 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 $ 732,541 $ 578,066 Sales $ 446,850 227,088 12,453 $ 375,743 146,251 Cost of goods sold Other operating expenses Interest expense 13,296 8,671 9,523 Income taxes Total costs and expenses 695,914 543,961 $ 36,627 34,105 Net income 2.25 2.10 Earnings per share of Exercise 13-8 Part 2 (2) Compute accounts receivable turnover. Accounts Receivable Turnover Choose Denominator: Choose Numerator: Accounts Receivable Turnover Net sales | Average accounts receivable, net Accounts receivable turnover 732,541 I 0 times 2017: 0 times 578,066 / 2016: %3D II II Exercise (3) Compute inventory turnover. Inventory Turnover I Choose Denominator: Choose Numerator: Inventory Turnover %3D Inventory turnover %3D 2017: times %3D 2016: times %3D Exercise (3) Compute inventory turnover. Inventory Turnover I Choose Denominator: Choose Numerator: Inventory Turnover %3D Inventory turnover %3D 2017: times %3D 2016: times %3D Exercise 13-8 Part 4 (4) Compute days' sales in inventory. Days' Sales In Inventory Choose Numerator: Choose Denominator: Days Days' Sales In Inventory Days' sales in inventory %3D 0 days 2017: %3D 0 days 2016