Simon Company's year-end balance sheets follow. At December 31 Assets Cash Accs receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable Long-tere notes payable secured by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity $ 31,800 89.500 112,500 10,700 278,500 5523,000 $ 35,625 2.500 82,500 9,375 255,009 $445, $ 37,800 50,200 54,000 5,000 230.5e $377,500 $129,900 $ 75,250 $ 51,250 98,500 101,500 83.500 163,500 163,500 163,500 131,100 104,750 79,250 $523,000 $445,000 $ 377,5ee credit The company's income statements for the years ended December 31, 2018 and 2017, follow. Assume that all sales are on 2018 2017 5673,500 $ 532.000 $ 345, see For Year Ended December 31 Sales Cost of goods sold Other operating expenses Interest expense Income tax expense Total costs and expenses Net Income Earnings per share $411,225 209,550 12,100 9.525 13,300 502,625 $ 29,375 Exercise 13-8 Part 2 (2) Compute accounts receivable turnover. Accounts Receivable Turnover Choose Denominator: Choose Numerator - Accounts Receivable Turnover Accounts receivable turnover