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1) Compute days' sales uncollected.

Days' Sales Uncollected
	Choose Numerator:	/	Choose Denominator:	x	Days	=	Days' Sales Uncollected
		/		x		=	Days' Sales Uncollected
2017:		/		x		=	0	days
2016:		/		x		=	0	days

2) Compute accounts receivable turnover.

Accounts Receivable Turnover
	Choose Numerator:	/	Choose Denominator:	=	Accounts Receivable Turnover
		/		=	Accounts receivable turnover
2017:		/		=		times
2016:		/		=		times

3) Compute inventory turnover.

Inventory Turnover
	Choose Numerator:	/	Choose Denominator:	=	Inventory Turnover
		/		=	Inventory turnover
2017:		/		=		times
2016:		/		=		times

4) Compute days' sales in inventory.

Days Sales In Inventory
	Choose Numerator:	/	Choose Denominator:	x	Days	=	Days Sales In Inventory
		/		x		=	Days sales in inventory
2017:		/		x		=		days
2016:		/		x		=		days

At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets 2017 $ 29,943 35,000 $ 35,736 56,800 60,000 3,971 262,790 241,681 200,893 $502,476 433,169 357,400 89,600 110,500 9,643 62,800 84,500 9,188 Liabilities and Equity Accounts payable Long-term notes payable secured by $ 126,368$73,938$ 47,649 79,775 162,500 162,500 162,500 67,476 $502,476 433,169 357,400 95,410 100,625 mortgages on plant assets Common stock, Retained earnings $10 par value 118,198 96,106 Total liabilities 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 2017 2016 653,219 515,471 398,464 202,498 11,105 8,492 335,056 130,414 11,856 7.732 620,559 32,660 2.01 485,058 $ 30,413 1.87 Net income Earnings per share