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For both the current year and one year ago, compute the following ratios. Exercise 13-6 (Algo) Common-size percents LO P2 1. Express the balance sheets
For both the current year and one year ago, compute the following ratios. Exercise 13-6 (Algo) Common-size percents LO P2 1. Express the balance sheets in common-size percents 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. Express the balance sheets in common-size percents. (Do not round intermediate calculations and round your final percentage answers to 1 decimal place.) Complete this question by entering your answers in the tabs below. 2. Assuming annual sales have not changed in the last three years, is the change in accounts recelvable 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
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