Simon Company's year - end balance sheets follow. At December 3 1 Current Yr 1 Yr Ago
Question:
Simon Company's yearend balance sheets follow.
At December Current Yr Yr Ago Yrs Ago
Assets
Cash $ $ $
Accounts receivable, net
Merchandise inventory
Prepaid expenses
Plant assets, net
Total assets $ $ $
Liabilities and Equity
Accounts payable $ $ $
Longterm notes payable secured by
mortgages on plant assets
Common stock, $ par value
Retained earnings
Total liabilities and equity $ $ $
Express the balance sheets in commonsize percents. Do not round intermediate calculations and round your final percentage answers to decimal place.
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?