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Simon Company's year-end balance sheets follow At December 31 AssetS Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and
Simon Company's year-end balance sheets follow 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 2017 2016 2015 $ 24,204 $ 28,293 29,472 50,200 55,000 3,275 162,753 $ 414,389 357,232 300,700 89,000 112,000 7,795 62,800 84,500 7,427 181,390174,212 $ 102,151 59,768 81,342 53.622 39,295 mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity 77,126 65,790 162,500 162,500 162,500 33,115 $ 414,389 $357,232 300,700 72,612 The company's income statements for the years ended December 31, 2017 and 2016, follow. Assume that all sales are on credit: 2017 2016 For Year Ended December 31 Sales Cost of goods sold Other operating expenses Interest expense Income taxes Total costs and expenses Net income $ 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 4) Compute days' sales in inventory. Days' Sales In Inventory Choose Numerator: Days' Sales In Inventory Days' sales in inventory Choose Denominator: x Days 2017: 2016: Red text indicates no response was expected in a cell or a formula-based calculation is incorrect; no points deducted 0 days 0 days
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