Simon Company's year-end balance sheets follow. At December 31 Current Yr 1 Yr Ago 2 Yrs Ago Assets Cash $ 37,075 $ 42,9

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Simon Company S Year End Balance Sheets Follow At December 31 Current Yr 1 Yr Ago 2 Yrs Ago Assets Cash 37 075 42 9 1 (80.53 KiB) Viewed 69 times

Simon Company S Year End Balance Sheets Follow At December 31 Current Yr 1 Yr Ago 2 Yrs Ago Assets Cash 37 075 42 9 2 (38.18 KiB) Viewed 69 times

Simon Company S Year End Balance Sheets Follow At December 31 Current Yr 1 Yr Ago 2 Yrs Ago Assets Cash 37 075 42 9 3 (31.33 KiB) Viewed 69 times

Simon Company's year-end balance sheets follow. At December 31 Current Yr 1 Yr Ago 2 Yrs Ago Assets Cash $ 37,075 $ 42,909 $ 44,249 107,456 76,592 56,686 Accounts receivable, net Merchandise inventory 135, 105 102,203 61,602 Prepaid expenses 11,467 11,601 4,820 Plant assets, net 331,071 303,052 270,843 Total assets $622,174 $ 536,357 $438,200 Liabilities and Equity Accounts payable $ 159,569 $ 91,551 $ 56,107 Long-term notes payable secured by 118, 138 124,596 96,842 mortgages on plant assets Common stock, $10 par value 163,500 163,500 163,500 Retained earnings 180, 967 156,710 121,751 Total liabilities and equity $622,174 $ 536,357 $438,200 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?
Req 1 Req 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.) Show less A 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, 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 % %
Req 1 Req 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 A 2. Change in accounts receivable 3. Change in merchandise inventory < Req1 Req2 and 3