Simon Company's year-end balance sheets follow. 2016 At December 31 2015 2017 Assets $31,800 $ 35,625 $ 37,800 Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net 89,500 112,500 10,700 278,500 62,500 82,500 9,375 50,200 54,000 5,000 230,500 255,000 Total assets $523,000 $445,000 $ 377,500 Liabilities and Equity Accounts payable Long-term notes payable secured by mortgages on plant assets Common stock, $10 par value Retained earnings $129,900 $ 75,250 $ 51,250 98,500 163,500 131,100 101,500 83,500 163,500 79,250 163,500 104,750 Total liabilities and equity $523,000 $445,000 $ 377,500 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 Sales $673,500 532,000 Cost of goods sold Other operating expenses Interest expense $411,225 209,550 12,100 9,525 $345,500 134,980 13,300 8,845 Income taxes Total costs and expenses 642,400 502,625 $ 31,100 Net income 29,375 1.90 $ Earnings per share 1.80 (1) Compute days' sales uncollected. Days' Sales Uncollected Choose Denominator: Days' Sales Uncollected Choose Numerator: X Days Days' Sales Uncollected 2017: / days X - days 2016: X - (2) Compute accounts receivable turnover. Accounts Receivable Turnover IChoose Denominator: Choose Numerator: Accounts Receivable Turnover Accounts receivable turnover - 2017: times - times 2016: (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 IChoose Denominator: Days' Sales In Inventory Choose Numerator: Days X Days' sales in inventory / 2017: days X 2016: days X