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. Current Year 1 Year Ago 2 Years Ago Al 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 Common stock, $10 par value Retained earnings Total liabilities and equity $ 28,640 83,687 103, Bee 9, 223 271,157 $ 495,327 $ 33,819 60, 379 78,206 9,146 245,466 $ 427,206 $ 36,386 46,971 51,560 3,994 224,269 $363,180 $ 123,336 92,199 162,500 117,301 $ 495,327 $ 72,886 95, 265 162,500 96,355 $ 427.006 $ 48,408 Be, 245 162,500 71,947 $363, 180 For both the current year and one year ago. compute the following ratos: 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. question by entering your answers in the tabs below Reg 1 Reg 2 and 3 Express the balance sheets in common-size percents. (Do not round intermediate calculations and round your final per answers to 1 decimal place.) SIMON COMPANY Common-Size Comparative Balance Sheets December 31 Current Year 1 Year Ago 2 Years Ago Assets % 9. Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable Long-term notes payable Common stock, 510 par Retained earnings Total liabilities and equity 96 REL Req2 and 3 >