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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
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 counts payable Long-term notes payable secured by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity $ 25,307 $ 29,582 $ 31,450 89,100 62, 60055,800 114,000 84,500 54,000 8,150 7,765 3,494 205,647 196,763 182,756 $ 442,204 $ 381,210 $ 327,500 $ 106,806 $ 62,492 $ 41,933 80,640 85,048 70,206 162,500 162,500 162,500 92,258 71,170 52,861 $ 442,204 $ 381,210 $ 327,500 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 Sales Cost of goods sold Other operating expenses Interest expense Income taxes Total costs and expenses Net income Earnings per share 2017 $ 574,865 $ 350, 668 178,208 9,773 7,473 546,122 $ 28,743 $ 1.77 2016 $ 453,640 $ 294,866 114,771 10,434 6,805 426,876 $ 26,764 $ 1.65 (1) Compute days' sales uncollected. Days' Sales Uncollected | Choose Denominator: Choose Numerator: X Days Days' Sales Uncollected X 2017: X Days' Sales Uncollected 0 days 0 days 2016: (2) Compute accounts receivable turnover. Accounts Receivable Turnover 1 Choose Denominator: Choose Numerator: = Accounts Receivable Turnover Accounts receivable turnover times times 2017: 2016: (3) Compute inventory turnover. Inventory Turnover I Choose Denominator: Choose Numerator: = Inventory Turnover Inventory turnover 2017: times 2016: times (4) Compute days' sales in inventory. Days' Sales In Inventory Choose Numerator: I Choose Denominator: Days Days' Sales In Inventory X 2017: X Days' sales in inventory days days 2016: X
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