Required information (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 $ 29,846 $ 34,888 $ 35,272 89,700 62,600 50,400 113,000 83,000 58,000 9,612 9,158 3,919 253,792 237,897 201,709 $ 495,950 $ 427,543 $ 349,300 $ 125,961 $ 73,700 $ 47,030 95, 103 100,302 78,739 162,500 162,500 162,500 112,386 91,041 61,031 $ 495,950 $427,543 $ 349,300 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 Earnings per share 2017 $ 644,735 $ 393,288 199,868 10,960 8,382 612,498 $ 32,237 $ 1.98 2016 $ 508,776 $ 330,704 128, 720 11,702 7,632 478,758 $ 30,018 $ 1.85 (1) Compute days' sales uncollected. Choose Numerator: Accounts receivable 2017: 2016: Days' Sales Uncollected Choose Denominator: Net sales x Days x 365 X = Days' Sales Uncollected = Days Sales Uncollected 0 days 0 days 1 = = 2) Compute accounts receivable turnover. Accounts Receivable Turnover ! Choose Denominator: Choose Numerator: Accounts Receivable Turnover - Accounts receivable turnover times times 2017: 2016: = (3) Compute inventory turnover. Choose Numerator: Inventory Turnover 1 Choose Denominator: 1 1 Il Inventory Turnover Inventory turnover times 2017: II 2016: 1 times (4) Compute days' sales in inventory. Days' Sales In Inventory Choose Numerator: 7 Choose Denominator: * Days 1 x 1 11 Days' Sales In Inventory Days' sales in inventory days days 2017: / 11 2016: 1