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. At December 31. Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Current Year 1 Year Ago 2 Years Ago $ 30,086 $ 35,526 61,543 $ 37,006 48,365 53,605 91,646 112,990 9,886 275,723 97,822 $520,331 Liabilities and Equity Accounts payable $128,267 Long-term notes payable. Common stock, $10 par value Retained earnings Total liabilities and equity 83,814 9,137 258,541 $ 448,561 $ 73,533 103,169 163,500 108,359 163,500 130,742 $520,331 $ 448,561 For both the current year and one year ago, compute the following ratios: 4,030 227,094 $370,100 $ 49,342 82,610 163,500 74,648 $ 370,100 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?