Simon Company's year-end balance sheets follow. At December 31 Assets Current Year 1 Year Ago 2 Years Ago Cash $ 30,162 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 9,349 259,056 For both the current year and one year ago, compute the following ratios: 4,291 236,736 $ 382,400 $ 49,972 85,356 162,500 84,572 $ 382,400 86,527 113,277 10,110 281,578 $ 35,976 62,958 $ 37,100 82,363 49,972 54,301 $ 521,654 $ 449,702 $ 128,593 96,110 163,500 133,451 $ 76,000 101,363 162,500 109,839 $ 521,654 $ 449,702 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.