Solution-Express the balance sheets in common-size percents

Express the balance sheets in common-size percents

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Reference no: EM132573441

Simon Company's year-end balance sheets follow.

At December 31	Current Yr	1 Yr Ago	2 Yrs Ago
Assets
Cash	$ 28,441	$ 32,912	$ 34,284
Accounts receivable, net	84,903	59,342	45,254
Merchandise inventory	101,568	76,110	48,191
Prepaid expenses	9,342	8,639	3,733
Plant assets, net	257,796	238,557	214,838
Total assets	$ 482,050	$ 415,560	S 346,300
Liabilities and Equity
Accounts payable	$ 117,630	$ 69,527	$ 44,797
Long-term notes payable secured by mortgages on plant assets	92,438	96,535	76,532
Common stock, $10 par value	163,500	163,500	163,500
Retained earnings	108,482	85,998	61,471
Total liabilities and equity	$ 482,050	$ 415,560	S 346,300

Question 1. Express the balance sheets in common-size percents. (Do not round intermediate calculations and round your final percentage answers to 1 decimal place.)

Question 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?

Question 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?

Reference no: EM132573441

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Express the balance sheets in common-size percents

Reference no: EM132573441

Reference no: EM132573441

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