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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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