Chapter 17 - Homework i Saved Help Save & Exit Check my 4 Simon Company's year-end balance sheets follow. Current Yr 1 Yr Ago 2 Yrs Ago 20 points 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 $ 31,891 87,900 116, 215 19,069 283,859 $ 529,934 $36, 547 $ 38,443 63,958 51,257 81,989 52,978 9,594 4,313 264,761 233,709 $ 456,840 $ 380, 700 eBook Hint $ 134,593 $ 78,750 $ 50, 755 Print References 97,635 163,500 134,206 $ 529,934 102,972 84,135 163,500 163,500 111,618 82,310 $ 456,848 $ 380,700 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? RE Dlout Help Sav 4 20 points e Book Hint 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 secured by mortgages on plant assets Common stock, $10 par Retained earnings % % % Total liabilities and equity Print References Reg. Req 2 and 3 >