Simon Company's year-end balance sheets follow. 2017 2016 2015 At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant annets, het 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 $ 32,523 $ 38,016 $ 39,204 89,800 62,700 59,500 114.000 85,000 54,000 10,473 9,979 4.356 304,436 279,505 238,940 $ 551,232 $ 475,200 $ 396,000 $ 137,257 $ 80,309 $ 52,272 103,632 109,296 87,516 162,500 162,500 162,500 147, 843 123,095 93.212 $ 551, 232 475,200 $ 396,000 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 Coat of goods sold Other operating expenses Interest expense Income taxes Total costs and expenses Net income Earnings per share 2017 $ 716,602 $ 437,127 222, 147 12,182 9,316 680,272 $ 35,830 $ 2.20 2016 $ 565,488 $367,567 143,068 13,006 8.482 532,123 $ 33, 365 5 2.05 (1) Compute days' sales uncollected. Days' Sales Uncollected Choose Numerator: Choose Denominator: x Days / X Days' Sales Uncollected Days' Sales Uncollected days days 2017: 1 2016: 1 X (2) Compute accounts receivable turnover. Accounts Receivable Turnover Choose Denominator: Choose Numerator: 11 11 Accounts Receivable Turnover Accounts receivable turnover times 2017: 1 2016: times (3) Compute inventory turnover. Inventory Turnover 1 Choose Denominator: Choose Numerator: 11 7 = Inventory Turnover Inventory turnover times 2017: 7 11 2016: 7 times (4) Compute days' sales in inventory. Days! Sales In Inventory Choose Numerator: 1 Choose Denominator: X Days X Days' Salos In Inventory Days' sales in inventory 0 days 2017: 1 2016: 0 days