CI Simon Company's year-end balance sheets follow Current Yr 1 Yr Ago 2 Yrs ago $ 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 Cormon stock, $10 par value Retained earnings Total 1abilities and equity $ 35,502 102,896 128,052 11,433 336,128 $ 614,011 42,346 $ 74,846 97,924 11,227 302,977 $ 529,320 43,232 58,225 62,010 4,852 272, 781 441,100 $ 155,947 $ 87,666 $ 57,643 ces 113,125 163,500 181,439 $ 614,011 122,961 97,483 163,500 163,500 155,193 122,474 $ 529,320 $441,100 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. e o E for anything Reg 1 Reg 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 Long-term notes payable secured by mortgages on plant assets Common stock, $10 par Retained earnings Total liabilities and equity % % % % % Next >