Exercise 13-6 Common-size percents LO P2 Simon Company's year-end balance sheets follow Current Yr 1 Yr Ago 2 Yrs Ago $ 29,780 32.184 108.521 9.590 274,271 $ 509,846 $ 34,810 $ 34,500 60, 302 46,939 83,751 49,990 9,045 3,794 251,614 220.377 $439,522 S 355,600 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, 510 par value Retained earnings Total liabilities and equity $ 129.491 $ 72,794 $ 45,531 96,010 163,500 120,045 103, 112 76,230 163,500 163,500 100, 116 70,339 3 439522 $ 355,600 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. Complete this question by entering your answers in the tabs below. Reg 1 Reg 2 and 3 142 points Express the balance sheets in common-size percents. (Do not round intermediate calculations and round your final percentage answers to 1 decimal place.) eBook Hint Print SIMON COMPANY Common-Size Comparative Balance Sheets December 31 Current Year 1 Year Ago References 2 Years Ago Assets Cash Accounts receivable, net Merchandise invertory Prepaid expenses Plant assets, not Total assets Liabilities and Equity Accounts payable Long-term notes payable secured by mortgages on plant assets Common stock, 510 par Retained earnings Total liabilities and equity 1. Express the balance sheets in common-size percents (Do not round intermediate calculations and round your final perc 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 t 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 assets favorable or unfavorable? Complete this question by entering your answers in the tabs below. Reg1 Reg 2 and 3 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? 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. 3. Change in accounts receivable Change in merchandise inventory
