[The following information applies to the questions displayed below.] Simon Company's year-end balance sheets follow. At...
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[The following information applies to the questions displayed below.] Simon Company's year-end balance sheets follow. At December 31) Assets Cash Accounts receivable, net Current Year 1 Year Ago. 2 Years Ago $ 39,702 68,116 Merchandise inventory. Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable Long-term notes payable Common stock, $10 par value Retained earnings Total liabilities and equity $ 32,966 95,545 120,130 10,509 305,236 $ 564,386 $ 143,343 102,921 162,500 155,622 90,910 10,013 277,799 $ 486,540 $ 83,048 114,142 163,500 125,850 $ 40,533 51,421 54,752 4,460 246,334 $ 397,500 $ 52,470 86,091 163,500 95,439 $ 564,386 $ 486,540 $ 397,500 1. Express the balance sheets in common-size percents. 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. Req 1 Req 2 and 3 [The following information applies to the questions displayed below.] Simon Company's year-end balance sheets follow. At December 31) Assets Cash Accounts receivable, net Current Year 1 Year Ago. 2 Years Ago $ 39,702 68,116 Merchandise inventory. Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable Long-term notes payable Common stock, $10 par value Retained earnings Total liabilities and equity $ 32,966 95,545 120,130 10,509 305,236 $ 564,386 $ 143,343 102,921 162,500 155,622 90,910 10,013 277,799 $ 486,540 $ 83,048 114,142 163,500 125,850 $ 40,533 51,421 54,752 4,460 246,334 $ 397,500 $ 52,470 86,091 163,500 95,439 $ 564,386 $ 486,540 $ 397,500 1. Express the balance sheets in common-size percents. 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. Req 1 Req 2 and 3
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