Simon Company's year-end balance sheets follow. Current Yr 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 $ 28,758 81,700 101,685 8,986 261,477 $ 482,606 1 Yr Ago 2 Yrs Ago $ 33,283 $ 33,980 59,411 47,137 78,507 49,231 8,475 3,737 236,364 212,615 $ 416,840 $ 346,700 $ 70,311 $ 45,764 $ 121,371 89,823 163,500 107,912 $ 482,606 92,819 75,088 163,500 163,500 89,410 62,348 $ 416,040 $ 346,700 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 percenta 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? neware in the tabs below 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, $10 par Retained earnings Total liabilities and equity Req1 Reg 2 and 3 >