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. $ 32,413 44,081 46,026 3,637 201,243 $ 327,400 At December 31 Assets Current Year 1 Year Ago 2 Years Ago Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets $ 27,158 78,711 $ 32,380 54,998 96,985 74,144 8,658 248,786 8,416 226,871 $ 460,298 Liabilities and Equity Accounts payable $ 114,614 $ 69,073 Long-term notes payable Common stock, $10 par value Retained earnings 86,536 163,500 95,648 Total liabilities and equity $ 460,298 $ 396,809 $ 396,809 91,266 162,500 73,970 For both the current year and one year ago, compute the following ratios: $ 43,649 73,079 162,500 48,172 $ 327,400 xes 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.. 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 decimal place.) SIMON COMPANY Common-Size Comparative Balance Sheets Assets Cash Accounts receivable, net Merchandise inventory - Prepaid expenses December 31 Current Year 1 Year Ago 2 Years Ago % 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 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 December 31 Current Year 1 Year Ago 2 Years Ago % % % % % % % % % % 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 3 Change in merchandise inventory Show less