Sexton Company’s year-end balance sheets follow. Express the balance sheets in common-size per¬

cents. Round amounts to the nearest one-tenth of a percent. Analyze and comment on the results.

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2006 2005 2004 Cash... Accounts receivable, net $ 30,800 $ 35,625 $ 36,800 88,500 62,500 49,200 Merchandise inventory 111,500 82.500 53,000 Prepaid expenses Plant assets, net 9,700 9.375 4,000 277,500 255,000 229,500 Total assets.. $518.000 $445,000 $372,500 Accounts payable $128,900 $ 75,250 $ 49,250 Long-term notes payable secured by mortgages on plant assets 97,500 102,500 82,500 Common stock, $10 par value 162,500 162,500 162,500 Retained earnings Total liabilities and equity 129,100 104,750 78,250 $518,000 $445,000 $372,500