Simon Company's year end balance sheets follow Currentyr At Dec 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 Common stock, $10 par value Retained earnings Total liabilities and equity $ 27,617 5 32,933 $ 32,637 8.50 57.634 43,516 103,687 76,913 48,232 8,559 3,553 251,490 231,553 205,062 $422. $ 407,592 $ 333,800 $ 121.261 $ 68,194 $ 45,275 89.777 165,500 94,684 71,385 163,500 163.560 1,214 52,848 5 407,592 5 333, eee 24,383,600 $ 472,197 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? favorable estion by enteng your answers in the tabs below Req1 Req 2 and 3 Express the balance sheets in common-size percents. (Do not round intermediate calculations and round your final percentage answers to 1 decimal place.) 2 Years Ago SIMON COMPANY Common-Size Comparative Balance Sheets December 31 Current Year 1 Year Ago 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 Common stock, 510 par Retained earnings Total liabilities and equity Reg 2 and 3 > Prev 13 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 Reg 1 Req 2 and 3 Assuming annual sales have not changed assets favorable or unfavorable? Assuming annual sales have not changed in the last total assets favorable or unfavorable? LEE $ $ the change in accounts receivable as a percentage of total the change in merchandise inventory as a percentage of Show less Change in accounts receivable Change in merchandise inventory
