Required information [The following information applies to the questions displayed belowj Simon Company's year-end balance sheets follow At December 31 AssetS $ 37,374 $ 43,686 $ 44,606 58,700 60,000 4,956 277,838 as Accounts receivable, net 89,900 112,000 12,036 375,871 62,900 83,000 11,468 339,619 Merchandise inventory Prepaid expenses Plant assets, net Total assets $ 627,181 540,673 $. 446,100 Liabilities and Equity Accounts payable Long-term notes payable secured by $.157,730$. 92,287$. 59,474 mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity 119,089 162,500 187,862 125,598 162,500 160,288 99,574 162,500 124,552 73 446,100 s 627,181 540,6 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 Cost of goods sold Other operating expenses Interest expense Income taxes Total costs and expenses Net income 2017 2016 $ 815,335 $ 643,401 $ 497,354 252,754 13,861 10,599 $ 418,211 162,780 14,798 9,651 774,568 $ 40,767 605,440 $ 37,961 2.34 Earnings per share (3) Compute inventory turnover nve ntory Turnover Choose Numerator: | Choose Denominator: | = Inventory Turnover Inventory turnover 2017: times 2016: times