18 points Book Hint ANK 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 Assets Cash Accounts receivable, net Herchandise inventory Prepaid expenses Plant assets, Total assets Current Year 1 Year Ago 2 Years Ag 531,334 40, 140 43,622 3,433 191,791 25,461 75,316 31,296 54,231 95,653 70,244 8,622 8,054 239,844 219,706 444,896 383,531 310,300 Liabilities and Equity Accounts payable 109,671 64,169 40,550 Long-term notes payable 85,313 85,546 70,634 Common stock, $10 par value 162,500 162,500 162,500 Retained earnings 7,412 73.295 316416 Total liabilities and equity 5444,896 $383,531 310,300 References Mc 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? Pre 1 of 1 Next>