Exercise 17-6 Common-uze percent P2 Simon Company's year-end balance sheets follow (1) Express the balance sheets in common-size percents. Round percents to one decimal. (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) Is the change in merchandise inventory as a percentage of total assets favorable or unfavorable? At December 21 Assets Cast C 1Age 2YA $31,400 80500 $35625 62,500 $ 37,00 50,200 112,500 12.500 54,000 10,700 0375 5.000 P 276,500 255000 230500 1523 000 $445.000 $177.500 $125,000 $1,250 $51.250 Long term M500 101,500 A1500 Cock $10 pale tared 161500 163.500 141500 121,500 104.750 79250 1445,000 $377.500