Required 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 Liabilities and Equity Accounts payable Current Year 1 Year Ago $ 29,780 90,762 $ 36,964 60,918 80,499 111,878 10,085 277,858 $ 520,363 9,420 260,788 $ 448,589 $ 74,295 102,144 162,500 109,650 Long-term notes payable Common stock, $10 par value Retained earnings $ 132,162 100,763 163,500 123,938 Total liabilities and equity $ 520,363 $ 448,589 2 Years Ago For both the current year and one year ago, compute the following ratios: $ 38,130 50,342 54,155 4,237 230,736 $ 377,600 $ 49,345 81, 781 162,500 83,974 $ 377,600 Exercise 13-6 (Algo) Common-size percents LO P2 Express the balance sheets in common-size percents. . Assuming annual sales have not changed in the last three years, is the change in accoun ssets favorable or unfavorable? hanan in marcha 16,6 points 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 H AM 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 eamings Total abilities and equity December 31 Current Year 1 Year Age 2 Years Age Req 2 and 3> 16.66 points eBook Pont 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