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7 Exercise 13-6 Common-size percents LO P2 pos Cash Simon Company's year-end balance sheets follow At December 31 Assets Accounts receivable, net Merchandise Inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable Long-tere notes payable secured by mortgages on plant assets Connon stock, 510 par value Retained earnings Totat Liabilities and equity Current yr yr Ago 2 Yrs Ago $ 29,949 536,422 $ 36,827 89,432 63,120 47,178 113,546 30,955 52,305 9,937 9,092 3.972 269,825 252, 422 224,418 $512,739 $ 442,016 $ 364,700 Block Hill $126,395 96,395 163,500 126,449 $512,739 $ 72,460 $ 49,585 102.680 82,213 163,500 163,500 102.376 69,404 $442,016 $ 364,700 Bew 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 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. Req1 Heq 2 and Express the balance sheets in common-site percents. (Do not round intermediate calculations and round your final percentage answers to 1 decimal place) SIMON COMPANY Common Size Comparative Balance Sheets December 11 Current Year 1 Year Ago 2 Years Ago Assets Cach Accounts receivable, Merchandise vertory Prepaid expenses 1 7. 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 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? nts Skipped Complete this question by entering your answers in the tabs below. Book Req1 Hint Print References Reg 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-Site Comparative Balance Sheets December 31 Current Year 1 Year Ago 2 Years Ago 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, 510 par Retained earnings Total liabilities and equity % % 89, 432 113,546 9,937 269,875 $ 512,739 63,120 47,178 80,955 52,305 9,097 3,972 252,422 224,418 $ 442,016 $364,700 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 $ 126,395 $ 72,460 $ 49,585 96,395 102,680 82,211 163,500 163,500 163,500 126,449 103, 376 69,484 $512,739 $442,016 $ 364,700 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 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 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? 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