Simon Company's year-end balance sheets follow 2017 At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets 2016 2015 $ 24,204 $ 28,293 29,472 50,200 55,000 3,275 181,390 174,212 162,753 $ 414,389 357,232 300,700 89,000 112,000 7,795 62,800 84,500 7,427 Liabilities and Equity Accounts payable Long-term notes payable secured by $ 102,151 $ 59,768$ 39,295 77,126 mortgages on plant assets Common stock, $10 par value Retained earnings 65,790 162,500 162,500 162,500 33,115 $ 414,389 $357,232 300,700 81,342 72,612 53,622 Total 1liabilities and equity 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 2017 2016 $ 538,706 425,106 328,611 166,999 9,158 7,003 276,319 107,552 9,777 6,377 511,771 $ 26,935 $1.66 400,025 $ 25,081 1.54 Earnings per share (2) Compute accounts receivable turnover. Accounts Receivable Turnover Choose Numerator: Choose Denominator: Accounts Receivable Turnover Accounts receivable turnover times times 2017: 2016