Exercise 13-6 Common-size percents LO P2 Simon Company's year-end balance sheets follow. 2017 2016 2015 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 $ 27, 193 $ 32,739 $ 33,107 77,236 56,181 43,705 99,092 73,504 46,076 8,669 8,177 3,606 248,701 226,719 204,606 $ 460,891 $ 397,320 $ 331,100 $ 112,467 $ 67,147 $ 42,831 88,380 91,384 73,173 163,500 163,500 163,500 96,544 75,289 51,596 $ 460,891 $ 397,320 $ 331,100 Express the balance sheets in common-size percents. (Do not round intermediate calculations and round your final percentage answers to 1 decimal place.) 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, 2015-2017 2017 2016 2015 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 % % % % % SIMON Company Syedi-end Ddldlice Smeets Tollow. 2017 2016 2015 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 $ 28,418 $ 32,879 $ 35,315 86,566 60,504 49,489 108,840 79,168 52,205 9,338 8,987 4,044 258,325 242,158 222,947 $ 491,487 $ 423,696 $ 364,000 $ 126,052 $ 71,605 $ 47,568 93,324 98,425 82,053 162,500 162,500 162,500 109,611 91,166 71,879 $ 491,487 $ 423,696 $ 364,000 1. Compute the current ratio for the year ended 2017, 2016, and 2015. 2. Compute the acid-test ratio for the year ended 2017, 2016, and 2015. Complete this question by entering your answers in the tabs below