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 36,465 $ 42,624 $ 43,956 89,200 62,800 56,200 111,000 82,000 58,000 11,743 11, 189 4,884 369,640 334,187 280,960 $ 618,048 $ 532,800 $ 444,000 $ 153,894 $ 90,943 $ 58,608 116,193 122,544 98,124 162,500 162,500 162,500 185,461 157,713 124,768 $ 618,048 $ 532,800 $ 444,000 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 Cost of goods sold Other operating expenses Interest expense Income taxes Total costs and expenses Net income Earnings per share 2017 $ 803,462 $ 490,112 249,073 13,659 10,445 763,289 $ 40,173 2016 $ 634,032 $ 412, 121 160, 410 14,583 9,510 596,624 $ 37,408 $ 2.47 $ 2.30 (1) Compute days' sales uncollected. Days' Sales Uncollected Choose Numerator: 1 Choose Denominator: Days = 1 X = Days' Sales Uncollected Days' Sales Uncollected days days / 2017: 2016: x x / 11 (2) Compute accounts receivable turnover. Choose Numerator: Accounts Receivable Turnover 1 Choose Denominator: 1 = 11 Accounts Receivable Turnover Accounts receivable turnover times times 2017: = 2016: 11 (3) Compute inventory turnover. Choose Numerator: = Inventory Turnover 1 Choose Denominator: 1 1 11 Inventory Turnover Inventory turnover times 2017: II 2016: = times (4) Compute days' sales in inventory. Choose Numerator: Days' Sales In Inventory. 1 Choose Denominator: 1 Days Days' Sales In Inventory Days' sales in inventory days / II 2017: 2016: / days