18 1 paints Sipped Required information Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below] Simon Company's year-end balance sheets follow. At December 31 Assots Cash Current Year 1 Year Ago 2 Years Ago Accounts receivable, net ellook H Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable Long-term notes payable Ak Common stock, $10 par value Retained earnings Total liabilities and equity 25,461 31,296 75.316 54,231 95,653 70,244 $31,334 40,140 43,622 8.622 8,054 3,413 239,044 219,706 191,791 5 444,896 383,531 310,300 109,671 85,313 $64,169 40.550 85,566 70,634 162,500 87,412 $444,896 162,500 71,296 383,531 162,500 36,616 $310,300 Prt OF ferences For both the current year and one year ago, compute the following ratios Exercise 13-6 (Algo) Common-size percents LO P2 1. Express the balance sheets in common-size percents. 2. Assuming annual sales have not changed in the last three years, is the change in accounts receivable as a percentage of total assets favorable or unfavorable? 3. Assuming annual sales have not changed in the last three years, is the change in merchandise inventory as a percentage of total assets favorable or unfavorable? Complete this question by entering your answers in the tabs below. Help Save & Exit Submit Check my work