nices 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 At December 31 Assets Current Year 1 Year Ago 2 Years Ago Herchandise Inventory Cash Accounts receivable, net Prepaid expenses Plant assets, net $34,060 104,129 130,922 11,112 321,687 $40,333 $ 42,446 73,493 58,328 97,115 Total assets 5602,910 Liabilities and Equity Accounts payable $140,623 $ 57,038 Long-term notes payable 112,214 118,347 Common stock, $10 par value 162,500 163,500 10,00 298,003 $519,750 $437,500 $ 56,595 97,654 163,500 62,125 4,012 269,788 setained earnings 179,573 150,065 119,751 Total liabilities and equity 5602,910 $519,750 $437,500 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. Pe 2 and 3 Express the balance sheets in common-size percents. (Do not round intermediate calculations and round your final percentage answers to 1 decimal place) SIMON COMPANY Common Size Comparative Balance Sheets December 31 Required information 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. Req 1 Req 2 and 3 Express the balance sheets in common-size percents. (Do not round intermediate calculations and round your final percentage answers to 1 deomal place.) SIMON COMPANY Common-Size Comparative Balance Sheets December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable Current Year 1 Year Ago 2 Years Ago % Long-term notes payable Common stock $10 par Retained earnings Total liabilities and equity Ries 1 Req 2 and 3 > R Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable 11,112 321,887 $ 602,910 112,214 162,500 $ 148,623 Long-term notes payable Common stock, $10 par value Retained earnings Total liabilities and equity 10,0 298,003 $ 519,750 $ 87,038 118,347 163,500 150,065 179,573 $ 602,910 $519,750 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. 269,786 $437,500 $ 56,595 97,654 163,500 119,751 $ 437,500 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. Req 1 Req 2 and 3 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? 2. Change in accounts receivable Show less 3. Change in merchandise inventory Fung2 and 3 unfavorable development. favorable development.