3 Part 1 of 3 1.33 points Skipped eBook 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 Merchandise inventory Prepaid expenses Total assets Plant assets, net Print References Liabilities and Equity Accounts payable Long-term notes payable Connon stock, $10 par value Retained earnings Total liabilities and equity Current Year 1 Year Ago 2 Years Ago $ 27,362 79,304 103,780 8,991 253,795 $473,232 $119,013 91,637 $ 32,310 55,972 77,737 8,653 233,287 $ 407,959 $ 70,324 94,769 162,500 80,366 163,500 99,082 $473,232 $ 407,959 $ 34,677 46,235 47,300 3,702 211,486 $343,400 $ 44,422 76,650 162,500 59,020 $343,400 For both the current year and one year ago, compute the following ratios: Check my wa Req 1. Req 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 Accounts receivable, net Merchandise inventory % % % Prepaid expenses Plant assets, net Total assets % % % Liabilities and Equity Accounts payable % % % Long-term notes payable Common stock, $10 par Retained earnings Total liabilities and equity Complete this question by entering your answers in the tabs below. Req 1 Req 2 and 3 d 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? 2. Change in accounts receivable 3. Change in merchandise inventory Show less A nces