Required information [The following information applies to the questions displayed below. Simon Company's year-end balance sheets follow. 4 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 $ 37,032 $ 43,287 $ 43,765 89,900 62,000 55,500 112,500 83,000 52,000 11,926 11,363 4,863 364,001 330,832 277, 272 $ 615,359 $530, 482 $ 433,400 21:03 $ 156,289 $ 91,444 $ 58,353 118,001 124,451 97,697 162,500 162,500 162,500 178 569 152,087 114,850 $ 615,359 $530,482 $ 433,400 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 Salen Cost of goods sold other operating expenses Interest expense Income taxe Total costs and expenses Net Income Earnings per share 2017 $ 799,967 $ 487,980 247,990 13,599 10,400 759.969 $ 39,998 2.46 2016 $631,274 $ 410,328 159,712 14,519 9.469 594.028 $ 37,246 $ Earnings per share $ 2.46 s 2.29 (1) Compute days' sales uncollected. Choose Numerator: Days' Sales Uncollected Choose Denominator: x Days X = Days' Sales Uncollected Days' Sales Uncollected days days 2017: X 11 2016: x MacBook Air .. DU 80 F3 888 Fa FB 77 75 % & 5 6 7 8 9 (2) Compute accounts receivable turnover. Choose Numerator: 1 Accounts Receivable Turnover 1 Choose Denominator: 1 1 11 Accounts Receivable Turnover Accounts receivable turnover times times 2017: 11 2016: 1 = 20 DO gog OOD F4 1 FB F2 F3 F5 FO Earnings per share $ 2.46 $ 2.29 (3) Compute inventory turnover. Choose Numerator: Inventory Turnover Choose Denominator: 1 = Inventory Turnover Inventory turnover times times 2017: 1 2016: 1 11 S w 1 MacBook Air 80 888 OOO F4 17 FO FB FI F2 F3 F5 07 20 (4) Compute days' sales in inventory. Days = Days' Sales In Inventory Choose Numerator: ! Choose Denominator: 1 x 2017: 11 Days' Sales In Inventory Days' sales in inventory days days 1 11 2016: /