Requlred Informetlon [The following information applies to the questions displayed below. Simon Company's year-end balance sheets follow. Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets $ 27,862 $31,634 $ 31,672 54, 18e 59,88e 3,519 62,788 82,58e 8, 384 288,449 198,764 89,680 111,58e 8,715 445, 326 383,982 $318,68e Liabilities and Equity Accounts payable Long- $114,213 66,826 $ 42,229 term notes payable secured by mortgages on plant assets Common stock, $19 par value Retained earnings Total liabilities and equity 86, 233 82,388 $ 445,326 98,946 162,580 162, 58e 63,630 383,992 7e, 782 162, 58e 35,169 318,680 $. 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 2817 2816 $578,924 456,843 353,144 179,466 9,842 7,526 $296,948 115, 581 18,587 6,853 549,978 e 429,889 $26,954 1.66 $ 28,946 Earnings per share 1.78 (2) Compute accounts receivable turnover Accounts Receivable Turnover Choose Accounts Receivable Turnover Accounts receivable turnover imes imes 2017 2016