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Current Yr 1 Yr Ago 2 Yrs Ago 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 $ 31,802 5 35,625 $ 37,800 89,500 62,500 52,200 112,500 82,500 54,000 10,700 9,375 5.ee 278,500 255.000 230, 500 $ 523,000 5445,000 5 377,500 $ 129,900 $ 75,250 $ 51.250 98,588 163,500 131, 100 $ 523,000 101,500 83,500 163,500 163,500 104,750 79,250 $ 445, eeo 377,500 es 1. Express the balance sheets in common-size percents. 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 Reg 2 and 3 Express the balance sheets in common-size percents. (Do not round intermediate calculations and round your final pero 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 Piant assets, not Total assets Liabilities and Equity Accounts payable Long-term notes payable secured by mortgages on plant assets Common stock, S10 por Retained eaming Total liabilities and equity Exercise 13-6 Common-size percents LO P2 Current Yr1 Yr Ago 2 Yrs Ago 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 $ 31,800 89,500 112,500 10,700 278,500 $ 523,000 $ 35,625 $ 37,800 62,500 50,200 82,500 54,00 9,375 5,800 255,000 230,500 $ 445,000 $377,500 $ 129,900 $ 75,250 $ 51,250 98,500 163,580 131,100 $ 523,000 101,500 83,500 163,500 163,500 104,750 79,250 $ 445,000 $ 377,500 1. Express the balance sheets in common-size percents. 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 percentage of total assets favorable or unfavorable? Complete this question by entering your answers in the tabs below. Reg 1 Reg 2 and 3 Assuming annual sales have not changed in the last three years, is the change in accounts receivable as a percent Assuming annual sales have not changed in the last three years, is the change in merchandise inventory as a pers assets favorable or unfavorable? total assets favorable or unfavorable? s 2. Change in accounts receivable 3. Change in merchandise inventory Reg1