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. For both the current year and one year ago, compute the following ratios: 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 unfovorable? 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? Express the balance sheets in common-size percents. Note: Do not round intermediate calculations and round your final percentage answers to 1 decimal place