At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable Current Year 1 Year Ago 72,625 2 Years Ago $ 26,599 77,870 $ 32,033 55,509 94,969 8,739 247,201 $ 455,378 8,326 224,074 $ 392,567 $ 31,745 43,610 44,614 3,599 200,332 $ 323,900 $ 113,389 $ 65,017 $ 43,610 Long-term notes payable 88,179 Common stock, $10 par value 163,500 91,193 162,500 70,150 162,500 Retained earnings Total liabilities and equity 90,310 $455,378 73,857 47,640 $ 392,567 $ 323,900 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 assets favorable or unfavorable? 3. Assuming annual sales have not changed in the last three years, is the change in merchandise inventory as a percente assets favorable or unfavorable?