Check my w Exercise 13-6 Common-size percents LO P2 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 Accounts payable Long-term notes payable secured by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity Current Yr 1 Yr Ago 2 Yra Ago $ 26,931 76,510 96,197 $ 31,792 $ 32,471 55,091 44,169 72,798 47,515 8,501 7,936 3,717 243,807 221,992 203,428 $ 451,946 $ 389,609 $ 331,300 $111,409 $ 65,844 $ 44,169 86,665 89,610 71,753 163,500 163,500 163,500 90,372 70,655 51,878 $ 451,946 $389,609 $331,300 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? Check m 3. Assuming annual sales have not changed in the last three years, is the change in merchandise Inventory as a percentage of tota assets favorable or unfavorable? Complete this question by entering your answers in the tabs below. 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 Lona-term notes pavable secured by % % % % % % % % Graded Practice i Saved Hell Express the balance sheets in common-size percents. (Do not round intermediate calculations and round your final pe- answers to I 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 secured by mortgages on plant assets Common stock, $10 par Retained earnings Total liabilities and equity Req 1 % Req 2 and 3 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? 2. Change in accounts receivable 3. Change in merchandise inventory Show less A