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Simon Company's year-end balance sheets follow. At Docember 31 Current YP 1 Yr Ago 2 Yrs Ago Assets Lash 31, 602 4 35,554 4 36,043 Accounts receivable, not 87,045 62,878 52, 304 Merchandise inventory 116, 215 55,728 Prepaid expanses 9,712 4,147 Plant assets, net 262, 813 Total assets 452, 427 384,708 Liabilities and Equity Accounts payable $ 120, 366 $ 77,086 4 50,788 Long-term notes payable secured by mortgages on plant assets 186, 135 86,719 Common stock, $10 par value 163,908 163, 908 163,908 Retained earnings 132, 278 184, 786 83, 721 Total liabilities and equity 514,792 $ 452, 407 $ 384, 70 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. but4 2 and 3 Express the balance sheets in common-size percents. (Do not round Intermediate calculations and round your final percentage answers in 1 dedmal place.; SIMON COMPANY Common- Blze Comparative Balance Sheets December #1 Current Year | 1 Year Ago 2 Years Ago Accuto Cash Accounts mochable, net Merchandise inventory Prepaid expenses Plant andits, not Total mans Liabilities and Equity Accounts payable Long-term notes payable secured by mortgages on plant means Common stock, $10 par Retained naming Total liabilities and equitySimon Company's year-end balance sheets follow. At December 31 Current Yr 1 Yr Ago 2 Yrs Ago Assets Cash $ 31, 892 36,554 $ 36,943 Accounts receivable, net 87,945 62,878 52,304 Merchandise inventory 116, 215 81, 184 55,728 Prepaid expenses 9,772 9,786 4, 147 Plant assets, net 278, 968 262, 813 235,586 Total assets $ 524,792 452,497 384, 709 Liabilities and Equity Accounts payable $ 129,366 77,986 $ 50,780 Long-term notes payable secured by mortgages on plant assets 99,648 186, 135 86, 719 Common stock, $10 par value 163,509 163,509 163,508 Retained earnings 132, 278 184, 786 83, 701 Total liabilities and equity $ 524, 792 452, 497 384, 708 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. Req 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 A 2. Change in accounts receivable 3. Change in merchandise inventory
