Google Facebook Twitter Vaccine mework Saved Help Save & Exit Check Exercise 17-6 Common-size percents LO P2 Simon Company's year-end balance sheets follow, 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 Current Yr 1 Yr Ago 2 Yrs Ago $ 33,577 $ 40,450 $ 42,566 101,290 72,190 57,316 123,607 94,468 61,658 11,144 10,513 4,636 311,105 283,002 259,524 $ 580,723 $ 500,623 $ 425,700 ces $ 144,600 $ 85,451 $ 54,507 108,084 115, 143 94,080 163,500 163,500 163,500 164,539 136,529 113,613 $ 580,723 $ 500, 623 $ 425,700 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 percentag 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 percen of total assets favorable or unfavorable? Complete this question by entering your answers in the tabs below. n Req1 Req 2 and 3 Express the balance sheets in common-size percents. (Do not round intermediate calcu answers to 1 decimal place.) -d SIMON COMPANY Common-Size Comparative Balance Sheets December 31 Current Year 1 Year Ago 2 Years Ago Assets % % % ces % 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 % % % % % % % % Reg 2 and 3 > 6 AM * Bookmarks Develop Window Help ho ezto.mheducation.com Google Facebook Twitter Vaccine mework Saved Help Save & Exit Check my of total assets favorable or unfavorable? Complete this question by entering your answers in the tabs below. Reg 1 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 tota 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. Change in accounts receivable 3. Change in merchandise inventory
