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2 Years ago 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 Current Year 1 Year ago Assets Cash $ 35,683 $ 41,710 Accounts receivable, net 101,330 75,941 Merchandise inventory 128,717 94,506 Prepaid expenses 11,259 10,949 Plant assets, not 333,913 303,534 Total assets $ 610,902 $ 526,640 Liabilities and Equity Accounts payable $ 153,636 $ 91,672 Long-term notes payable 114,850 122,338 Common stock, $10 par value 262,500 163,500 Retained earnings 179,916 149. 130 Total liabilities and equity $ 610,902 $ 526,600 $ 44,764 58,516 62,319 4,925 272.776 $ 443,300 $ 56,760 96,010 162,500 128,030 443,300 For both the current year and one year ago, compute the following ratios: Exercise 17-6 (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? Reg 1 Req 2 and 3 Express the balance sheets in common-size percents. (Do not round intermediate calculations and ro answers to 1 decimal place.) d SIMON COMPANY Common-Size 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 Common stock, $10 par Retained earnings Total liabilities and equity % % % % % % % % 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? Complete this question by entering your answers in the tabs below. Reg 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? Show less 2. Change in accounts receivable 3. Change in merchandise inventory Ron and unfavorable development favorable development