Check my work 4 Exercise 17-6 Common-size percents LO P2 20 points Current Yr 1 Yr Ago 2 Yrs Ago Skipped eBook 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 $ 26,618 80,329 99,999 8,572 249.593 $ 465,111 $ 33,039 $ 31,794 55,573 43,249 72,694 47,447 8,336 3,461 231,316 198,449 $ 400,958 $ 324,400 Hint Print $ 112,338 $ 67,084 $ 41,536 References 89, 190 163,500 100,083 $ 465,111 90,376 70,975 163,500 163,500 79,998 48,389 $ 400,958 $ 324,400 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 my work Reg 1 Req 2 and 3 Express the balance sheets in common-size percents. (Do not round intermediate calculations and round your finat percentage answers to 1 decimal place.) SIMON COMPANY Common-Size Comparative Balance Sheets 1 Year Ago 2 Years Ago % % 5 December 31 Current Year 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, 510 par Retained earnings Total liabilities and equity Reg 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 2. Change in accounts receivable Changer merchandise inventory 3. Req1 Ben 2 and