Required information Exercise 13-8 Liquidity analysis and interpretation LO P3 [The following information applies to the questions displayed below Simon Company's year-end balance sheets follow At December 31 2017 2816 2015 Assets Cash 38,930 55,400 54,000 4,326 244,544 $ 547,374 $ 471,874 $ 397,200 31,972 $ 37,372 $ 89,8ee 113,s00 Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net 62,300 82,500 10,296 9,810 279,892 301,806 Total assets Liabilities and Equity Accounts payable Long-term notes payable secured by mortgages on plant assets Common stock, $10 par value Retained earnings $ 134,933 s 78,949 51,906 101,877 162,500 148,064 107,446 162,500 122,979 $ 547,374 $ 471,874 $ 397,200 86,903 162,500 95,891 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 2017 $ 711,586 2016 $ 561,530 $ 434,067 220,592 12,097 9.251 $ 364,995 142,067 12,915 8,423 Total costs and expenses 676,007 528,400 33,130 Net income 35,579 S Earnings per share 2.19 2.04 Exercise 13-8 Part 1 Exercise 13-8 Part 1 (1) Compute days' sales uncollected. Days' Sales Uncollected Choose Numerator Choose Denominator: Days Days' Sales Uncollected Days Sales Uncollected 2017 days 2016: days Exercise 13-8 Part 2 (2) Compute accounts receivable turnover Accounts Receivable Turnover Choose Numerator: Choose Denominator: Accounts Receivable Turnover Accounts receivable turnover 2017: times 2016: times Hint Exercise 13-8 Part 3 Print (3) Compute inventory turnover Inventory Turnover IChoose Denominator eferences Choose Numerator Inventory Turnover Inventory turnover 2017: times 2016 times Exercise 13-8 Part 4 (4) Compute days' sales in inventory Days' Sales In Inventory ces Choose Numerator: Choose Denominator Days Days' Sales In Inventory x Days' sales in inventory 2017: days days x 2016: X