Step $1$

Nabisco Company's year$-$end balance sheets follow. Express the balance sheets in common$-$size percents. Round amounts to the nearest one$-$tenth of a percent. Analyze and comment on the results.

$\backslash$table$[[\backslash$table$[[$At December $31],[$Assets$]],2020,2019.,2018],[,,,,,],[$Cash$,$$$,38,229,$$$,42,780,$$$,44,562],[$Accounts receivable, net,,$106,073,,76,377,,57,087],[$Merchandise inventory,,$137,408,,98,929,,62,038],[$Prepaid expenses,,$11,548,,11,003,,4,903],[$Plant assets, net,,$335,317,,311,062,,272,710],[$Total assets,,$628,575,,$$$540,151,$$$,441,300],[$Liabilities and Equity,,,,,,$],[\backslash$table$[[$Accounts payable$],[$Long$-$term notes payable secured$]],,159,577,$$$,94,024,$$$,57,087],[$by mortgages on plant assets,,$116,518,,127,962,,99,478],[$Common stock, $$10$ par value,,$163,500,,163,500,,163,500],[$Retained earnings,,$188,880,,154,665,,121,235],[$Total liabilities and equity,$$,628,575,,$$$540,151,$$$,441,300]]$