Simon Companies year-end balance sheets follow.
                                                                                                                                       

At December 31	2017			2016			2015
Assets
Cash	$	26,619		$	31,115		$	32,412
Accounts receivable, net		89,000			62,100			53,200
Merchandise inventory		114,500			83,000			57,000
Prepaid expenses		8,572			8,168			3,601
Plant assets, net		217,041			208,489			184,487
Total assets	$	455,732		$	392,872		$	330,700
Liabilities and Equity
Accounts payable	$	112,342		$	65,731		$	43,216
Long-term notes payable secured by  mortgages on plant assets		84,821			89,457			72,354
Common stock, $10 par value		162,500			162,500			162,500
Retained earnings		96,069			75,184			52,630
Total liabilities and equity	$	455,732		$	392,872		$	330,700

 

 The companyâ€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
Sales				$	592,452					$	467,518
Cost of goods sold	$	361,396					$	303,887
Other operating expenses		183,660						118,282
Interest expense		10,072						10,753
Income taxes		7,702						7,013
Total costs and expenses					562,830						439,935
Net income				$	29,622					$	27,583
Earnings per share				$	1.82					$	1.70

 

(1) Compute days' sales uncollected.

   

                                  

Days' Sales Uncollected
	Choose Numerator:	/	Choose Denominator:	x	Days	=	Days' Sales Uncollected
		/		x		=	Days' Sales Uncollected
2017:		/		x		=	0	days
2016:		/		x		=	0	days

 

(2) Compute accounts receivable turnover.
 

   

                          

Accounts Receivable Turnover
	Choose Numerator:	/	Choose Denominator:	=	Accounts Receivable Turnover
		/		=	Accounts receivable turnover
2017:		/		=		times
2016:		/		=		times

 

(3) Compute inventory turnover.

   

                          

Inventory Turnover
	Choose Numerator:	/	Choose Denominator:	=	Inventory Turnover
		/		=	Inventory turnover
2017:		/		=		times
2016:		/		=		times

 

(4) Compute days' sales in inventory.

   

                                  

Days†Sales In Inventory
	Choose Numerator:	/	Choose Denominator:	x	Days	=	Days†Sales In Inventory
		/		x		=	Days†sales in inventory
2017:		/		x		=	0	days
2016:		/		x		=	0	days