Required Information [The following information applies to the questions displayed below. Simon Company's year-end balan

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: Required Information The Following Information Applies To The Questions Displayed Below Simon Company S Year End Balan 1 (66.86 KiB) Viewed 4 times

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Required Information [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 Merchandise inventory Prepaid expenses Plant assets, net Total assets Current Year $ 25,835 77,171 97,989 8,659 237,170 $ 446,824 1 Year Ago $ 113,484 84,843 163,500 84,997 $ 446,824 $ 31,124 52,848 72,686 8,089 220,446 $385,193 Liabilities and Equity Accounts payable Long-term notes payable Common stock, $10 par value Retained earnings Total liabilities and equity For both the current year and one year ago, compute the following ratios: 2 Years Ago $ 65,098 85,937 162,500 71,658 $385,193 $ 30,221 41,956 46,028 3,427 193,068 $ 314,700 $ 40,710 69,549 162,500 41,941 $314,700 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?
Req 1 Req 2 and 3 Express the balance sheets in common-size percents. (Do not round intermediate calculation answers to 1 decimal place.) SIMON COMPANY Common-Size Comparative Balance Sheets 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 Common stock, $10 par Retained earnings Total liabilities and equity Current Year % % % % 1 Year Ago 2 Years Ago RED % % % % % % % % Req 2 and 3>
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. Reg 1 Req 2 and 3 2. Assuming annual sales have not changed in the last three years, is the change in accounts receivable as a perces 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 pe total assets favorable or unfavorable? 2. Change in accounts receivable 3. Change in merchandise inventory < Req 1 Req 2 and 3> Sh