Exercise 13-6 Common-size percents LO P2 Simon Company's year-end balance sheets follow. 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 Common stock, $10 par value Retained earnings Total liabilities and equity $ 25,342 72,699 95,174 8,078 236,994 $ 438,287 $ 30,227 $ 32,778 53.426 43,704 68,501 47,476 7,776 3,535 217,904 197, 107 $ 377,834 $ 324,600 $ 106,951 $ 64, 492 $ 43,276 80, 750 163,500 87,086 $ 438,287 85,164 73,889 163,500 163,500 64,678 43,935 $ 377,834 $ 324,600 1. Express the balance sheets in common-size percents. (Do not round Intermediate calculations and round your fin answers to 1 decimal place.) 2. Assuming annual sales have not changed in the last three years, is the changetin accounts receivable as a percent assets favorable or unfavorable? 3. Assuming annual sales have not changed in the last three years, is the change in merchandise inventory as a perce assets favorable or unfavorable? Complete this question by entering your answers in the tabs below. Prey 1 of 1 Next Check my work 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. 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 6.01% Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Prey 1 of 1 Next Req 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.) 2 Years Ago SIMON COMPANY Common-Size Comparative Balance Sheets December 31 Current Year 1 Year Ago Assets Cash 6.0 % 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 Req2 and 3 > Prev 1 of 1 Next