Simon Company's year-end balance sheets follow. Current Yr 1 Yr Ago 2 Yrs Ago $ 36,820 107,804 138,281 12,099 341,794 $ 636,798 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 Common stock, $10 par value Retained earnings Total liabilities and equity $ 43,917 $ 43,513 79,161 60,386 103,590 64,324 11,413 4,785 310,883 275, 492 $ 548,964 $448,500 $ 163,320 $ 89,992 $ 60,386 119,718 163,580 199,260 $ 636,798 123,736 109, 110 163,500 163,500 171,736 124,504 S $ 548,964 $ 448,5ee $ 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 recelvable 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. Reg 1 Reg 2 and 3 2 3 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 December 31 Current Year 1 Year Ago 2 Years Ago Assets % % % % %6 %6 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 Retained earnings Total liabilities and equity % %6 %6 % %6 % Req Req 2 and 3 > 2 Simon Company's year-end balance sheets follow. Current Yr 1 Yr Ago 2 Yrs Ago $ 36,820 107,804 138,281 12,099 341,794 $ 636,798 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 Common stock, $10 par value Retained earnings Total liabilities and equity $ 43,917 $ 43,513 79,161 60,386 103,590 64,324 11,413 4,785 310,883 275, 492 $ 548,964 $448,500 $ 163,320 $ 89,992 $ 60,386 119,718 163,580 199,260 $ 636,798 123,736 109, 110 163,500 163,500 171,736 124,504 S $ 548,964 $ 448,5ee $ 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 recelvable 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. Reg 1 Reg 2 and 3 2 3 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 December 31 Current Year 1 Year Ago 2 Years Ago Assets % % % % %6 %6 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 Retained earnings Total liabilities and equity % %6 %6 % %6 % Req Req 2 and 3 > 2
