Simon Companys year-end balance sheets follow. (1) Express the balance sheets in common-size percents. Round percents to
Question:
Simon Company’s year-end balance sheets follow.
(1) Express the balance sheets in common-size percents. Round percents to one decimal.
(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) Is the change in merchandise inventory as a percentage of total assets favorable or unfavorable?
Transcribed Image Text:
1 Yr Ago At December 31 Current Yr 2 Yrs Ago Assets $ 31,800 $ 35,625 $ 37,800 Cash.... Accounts receivable, net 89,500 62,500 50,200 Merchandise inventory.. 112,500 82,500 54,000 Prepaid expenses. 10,700 9,375 5,000 Plant assets, net 278,500 255,000 230,500 Total assets.. $523,000 $445,000 $377,500 Llabilities and Equlty Accounts payable... $129,900 $ 75,250 $ 51,250 Long-term notes payable.. 98,500 101,500 83,500 Common stock, $10 par value... Retained earnings... Total liabilities and equity.. 163,500 163,500 163,500 131,100 104,750 79,250 $523,000 $445,000 $377,500
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Commonsize percents for the balance sheets At December 31 Current year 1 year ago 2 years agoAssetsC...View the full answer
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Related Book For
Financial Accounting Information For Decisions
ISBN: 9781260705584
10th Edition
Authors: John J. Wild
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