Question
Simon Company's year-end balance sheets follow. Express the balance sheets in common-size percents. (Do not round intermediate calculations and round your final percentage answers to
Simon Company's year-end balance sheets follow.
Express the balance sheets in common-size percents. (Do not round intermediate calculations and round your final percentage answers to 1 decimal place.)
| At December 31 | 2017 | 2016 | 2015 | ||||||
| Assets | |||||||||
| Cash | $ | 33,091 | $ | 39,462 | $ | 41,526 | |||
| Accounts receivable, net | 98,815 | 68,375 | 54,820 | ||||||
| Merchandise inventory | 120,587 | 93,063 | 60,742 | ||||||
| Prepaid expenses | 10,764 | 10,461 | 4,477 | ||||||
| Plant assets, net | 303,279 | 277,032 | 253,735 | ||||||
| Total assets | $ | 566,536 | $ | 488,393 | $ | 415,300 | |||
| Liabilities and Equity | |||||||||
| Accounts payable | $ | 141,067 | $ | 81,713 | $ | 53,723 | |||
| Long-term notes payable secured by mortgages on plant assets | 105,444 | 108,960 | 91,781 | ||||||
| Common stock, $10 par value | 163,500 | 163,500 | 163,500 | ||||||
| Retained earnings | 156,525 | 134,220 | 106,296 | ||||||
| Total liabilities and equity | $ | 566,536 | $ | 488,393 | $ | 415,300 | |||
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Financial Accounting
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
7th Edition
978-0470477151, 978-0-470-5562, 470556242, 0-470-55624-2, 9780470556245, 978-0470507018
