Simon Company's year end balance sheets follow. Current Yr 1 Yr ARO 2 Yrs Ago At 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 secured by mortgages on plant assets on stock, $10 per value Retained earnings Total liabilities and equity 5 31,952 93,671 118,787 10,705 293.913 3 547,028 $ 38,458 $ 40,890 64,700 54,520 88,986 57,511 10,200 4,323 268,832 243,756 $ 471,576 $401,000 Book $ 133,486 $ 81,290 $ 52,932 100,784 16,500 149,255 $ 547,028 110,632 90,393 163,500 163,500 116,154 94, 125 $ 471,576 $ 40,000 1. Express the balance sheets in common size percents (Do not round Intermediate calculations and round your final percentage answers to 1 decimal place.) 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. BAC Grow Wh O c Type here to search k (graded) xpress the balance sheets in common-size percents. (Do not round intermediate calculations and round swers to 1 decimal place.) SIMON COMPANY Common-Size Comparative Balance Sheets December 31 Current Year 1 Year Ago 2 Years Ago Assets Cash Accounts receivable net Merchandise inventory Prepaid expenses Passets.net Total assets Liabilities and Equity Accounts payable Logom ces payable secured by magages on plaats Como shock 510 DO Ridge Tots and equity Reg 2 and 3 > Proy 7 of 12 Next > O 3