Exercise 13-6 Common-size percents LO P2 Simon Company's year-end balance sheets follow. Current Yr 1 yr Ago 2 Yen Ago $ 30,713 89.896 108.595 9,695 276,503 5 515,402 $ 35,190 $ 36,296 62.826 49,353 79,732 52,061 9.424 3,913 257.140 221, 372 5 444,312 $ 363,000 At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant annets, net Total asseto Liabilities and Equity Accounts payable Long-term notes payable secured by mortgages on plant assets Common stock, 510 par value Retained earningu Total liabilities and equity $ 129,618 $ 73,587 48,874 96,896 163,500 125.388 $ 515,402 100.14 B1,827 163,500 163,500 107.092 69,299 5.444,312 363,000 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. Red 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 Your 1 Year Ago 2 Years Ago Assets 2 S. Assuming annual sales nave not changed in the last three years, is the change in merchandise inventory as a percentag assets favorable or unfavorable? Complete this question by entering your answers in the tabs below. 1.42 points Skipped Reg 1 Req 2 and 3 eBook 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 Print % % % References 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 % % RE Req 2 and 3 > aw 2 $ 129,618 $ 73,587 $ 48,974 Liabilities and Equity Accounts payable Long-term notes payable secured by mortgages on plant assets Common stock, $10 per value Retained earnings Total liabilities and equity 96, 196 163,500 125,388 $ 515,402 100.148 81,827 163,500 163,500 107.077 68.799 $444,312 $ 363,000 42 onts Slopped 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? Book Hint Complete this question by entering your answers in the tabs below. Print Reg 1 Req 2 and 3 ferences Assuming annual sales have not changed in the last three years, is the change in accounts receivable as a percentage of total 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 3. Change in merchandise inventory
