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Required information [ The following information applies to the questions displayed below. ] Simon Company's year - end balance sheets follow. table [ [
Required information The following information applies to the questions displayed below. Simon Company's yearend balance sheets follow. tableAt December Current Year, Year Ago, Years AgoAssetsCash$$$Accounts receivable, net,Merchandise inventory,Prepaid expenses,Plant assets, net,Total assets,$$$Liabilities and Equity,,,Accounts payable,$$$Longtera notes payable,Common stock, $ par value,Retained earnings,Total liabilities and equity,$$$ For both the current year and one year ago, compute the following ratios: Express the balance sheets in commonsize percents. Assuming annual sales have not changed in the last three years, is the change in accounts recelvable 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?
Required information
The following information applies to the questions displayed below.
Simon Company's yearend balance sheets follow.
tableAt December Current Year, Year Ago, Years AgoAssetsCash$$$Accounts receivable, net,Merchandise inventory,Prepaid expenses,Plant assets, net,Total assets,$$$Liabilities and Equity,,,Accounts payable,$$$Longtera notes payable,Common stock, $ par value,Retained earnings,Total liabilities and equity,$$$
For both the current year and one year ago, compute the following ratios:
Express the balance sheets in commonsize percents.
Assuming annual sales have not changed in the last three years, is the change in accounts recelvable 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?
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