Check my Exercise 13-6 Common-size percents LO P2 Simon Company's year-end balance sheets follow. At December 31 Assets Current Te $ 35,711 102,488 126, 307 11.162 317,742 $ 593,410 1 Yr Ago 2 Yes Ago $ 39,697 $ 43,048 70,902 57,392 91,799 61,745 10,635 4.689 298,527 259,421 $ 511,560 $426,300 Cash Accounts receivable, net Merchandise inventory Prepaid expenses plant assets, net Total assets Liabilities and Equity Recounts payable Long-ter notes payable secured by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity $ 146,281 $ 85,589 $ 55,146 113,792 163,500 169,837 $ 593,410 120,012 94,212 163,500 163,500 142,459 113,442 $ 511,560 $426,300 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 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.) 2 Years Ago SIMON COMPANY Common-Size Comparative Balance Sheets December 31 Current Year 1 Year 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 abilities and equity Prox 1 of 1 !!! Next Check my Exercise 13-6 Common-size percents LO P2 Current Yr Simon Company's year-end balance sheets follow. At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses plant assets, net Total assets Liabilities and Equity Mccounts payable Long-term notes payable secured by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity $ 35,711 102,488 126, 307 11,162 317,742 $ 593,410 1 Y NO 2 Yrs Ago $ 39.697 $ 43,048 70,902 57,397 91,799 61,745 10,635 298,527 259,421 $ 511,560 $426,300 $ 146,281 5 B5,589 $ 55,146 113,792 120.012 94,212 163,500 163,500 163,500 169,837 142,459 113,442 $ 593,410 $ 511,560 $426,300 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 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 Reg 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
