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12 Simon Company's year-end balance sheets follow. 1.5 points 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 Yr1 Yr Ago 2 Yrs Ago $ 31,8ee $ $ 35,625 $ 37,880 89,580 62,580 50, 2ee 112,580 82,500 54,age 19,780 9,375 5 , 278,580 255,000 238,580 $ 523,eee $ 445,200 $ 377,500 eBook $ 129,988 $ 75,250 $ 51,25e 98,500 163,580 131,188 $ 523,080 Hint 101,500 83,580 163, see 163,580 164,750 79,250 $ 445,200 $377,588 it Print 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? References Complete this question by entering your answers in the tabs below. Reg 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 decimal place.) SIMON COMPANY Common-Size Comparative Balance Sheets December 31 Current Year 1 Year Ago 2 Years Ago Assets 96 961 96 Cash Accounts receivable, net Merchandise Inventory Prepaid expenses Plant assets, net 96 1962 % %6 96 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 96 Rea Reg 2 and 3 > 12 Simon Company's year-end balance sheets follow. Current Yr 1 Yr Ago 2 Yrs Ago 1.5 points 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 $ 31,800 89,500 112,500 10,700 278,500 $ 523,000 $ 35,625 $ 37,800 62,500 50,200 82,500 54,000 9,375 5,000 255,000 230,500 $ 445,000 $ 377,500 eBook $ 129,900 $ 75,250 $ 51,250 Hint 98,500 163,500 131, 100 $ 523,000 101,500 83,500 163,500 163,500 104,750 79,250 $ 445,000 $ 377,500 Print References 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 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
