Required Information [The following information applies to the questions displayed below.] Simon Company's year-end balance sheets follow. At December 31 Assets 2017 2016 2015 Cash 27,664 $ 89,4ee 113,50e 8,909 215,746 32,336 $ 32,375 52,10e 59, eee 3,597 Accounts receivable, net Merchandise inventory Prepaid expenses 62,7ee 84,eee 8,488 204,906 Plant assets, net 170,428 Total assets 455,219 $ 392,430 317,5ee Liabilities and Equity Accounts payable Long-term notes payable secured by mortgages on plant assets Common stock, $10 par value Retained earnings 116,750 $ 68,310 $ 43,167 92,967 162,5ee 68,653 72,273 88,149 162,50e 87,820 162,50e 39,560 Total liabilities and equity 455,219 $ 392,430 317,5ee 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 $ 466,992 Sales 591,785 Cost of goods sold other operating expenses Interest expense 303,545 118,149 10,741 7,ee05 360,989 183,453 10,06e 7,693 Income taxes Total costs and expenses 562,195 439,440 Net income 29,590 27,552 Earnings per share 1.82 1.70 (3) Compute Inventory turnover. Inventory Turnover Choose Denominator: Choose Numerator: Inventory Turnover Inventory turnover - times 2017 times 2016