Simon Company's year-end balance sheets follow. Current Yr 1 Yr Ago 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 Common stock, $10 par value Retained earnings Total liabilities and equity $ 36,602 184,002 134, 686 11,787 321, 124 $ 688,201 $ 40,687 $ 43,684 74,872 58,816 97,968 63,272 11,121 4,901 299,663 261,927 $ 524,311 $ 432,600 $ 154,471 ok 113, 198 163,500 177,032 $ 608,201 $ 89,495 $ 56,532 116,974 93,693 163,500 163,500 154,342 118,875 $ 524,311 $ 432,600 int 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? Tences Complete this question by entering your answers in the tabs below. Reg 1 Reg 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.) SIMON COMPANY Common-Six Comparative Balance Sheets December 31 Current Year 1 Year Ago 2 Years Ago Assets Check my work 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. Req 1 Reg 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.) 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 Plant assets, not 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 % % % % Reg 2 and 3 > 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. Reg 1 Reg 2 and 3 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? 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? Show less 2. Change in accounts receivable 3. Change in merchandise inventory Reg 1
