3 Check my work Exercise 17-6 Common-size percents LO P2 Simon Company's year-end balance sheets follow. Current Yr At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable Long-term notes payable secured by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity $ 27.240 79,733 97,300 8,599 244,258 $ 457,1.30 1 YAO YA $ 31,842 $ 32,180 54,068 44.676 72,175 47,584 8,276 3,723 227,717 285,937 $ 394,078 $ 335,100 ces $ 110,411 $ 67,031 5 43,791 85,082 163,500 38,138 $ 457,130 90,638 74,798 163,500 163,500 72,009 53,011 $ 394,078 $ 335,100 1. Express the balance sheets in common size percents. (Do not round intermediate calculations and round your final percentage answers to 1 decimal place.) Aceiminn annimester hinahan in the lattesaate the channel inte rarakishlasesora Check my work 1. Express the balance sheets in common-size percents. (Do not round intermediate calculations and round your final percentage answers to 1 decimal place.) 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. Reg 1 Reg 2 and 3 Express the balance sheets in common-size percents. (Do not round intermediate calculations and round your final percentage answers to 1 decimal place.) SIMON COMPANY Common-Size Comparative Balance Sheets December 31 Current Year 1 Year Ago 2 Years Ago Assets Cash answers to I decimal piace. Check my work SIMON COMPANY Common-Size Comparative Balance Sheets December 31 Current Year 1 Year Ago 2 Years Ago Assets Cash % % Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payablo Long-term notes payable secured by mortgages on plant assets Common stock. $10 par Retained earnings Total liabilities and equity % 3 my won Reg 1 Req 2 and 3 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? 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? Show less 2. Change in accounts receivable 3. Change in merchandise inventory