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Required information Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.) Simon Company's year-end balance sheets follow. Current Year 1 Year Ago 2 Years 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 Common stock, $10 par value Retained earnings Total liabilities and equity $ 29,327 84,141 185,791 9,731 273,184 $ 502,094 $ 33,935 59,992 79,275 9,181 250, 457 $ 432,840 $ 35,709 48, 889 50,195 4,047 222,660 $ 360,700 $ 125,021 96,282 162,500 118,291 $ 502,094 $ 74,613 98,558 163,500 96, 169 $ 432,840 $ 48,089 78,120 163,500 70,992 $360, 700 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 o assets favorable or unfavorable? 3. Assuming annual sales have not changed in the last three years, is the change in merchandise inventory as a percentag assets favorable or unfavorable? . Jui Required information Reg 1 Reg 2 and 3 Express the balance sheets in common-size percents. (Do not round Intermediate calculations answers to 1 decimal place.) SIMON COMPANY Common-Size Comparative Balance Sheets December 31 Current Year 1 Year Ago 2 Years Ago es Assets 18% % % % % % Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable Long-term notes payable Common stock, $10 par Retained earnings Total liabilities and equity % % % % % % Reg1 Req 2 and 3