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Current Yr 1 Yr Ago 2 Yrs Ago Simon Company's year-end balance sheets follow At December Assets Cash Accounts receivable, not Merchandise Inventory Prepaid expenses Plant assets, net Total asseta Liabilities and Equity Accounts payable Long-tern notes payablo secured by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity $ 30,478 90,119 115.551 9,716 275,927 $ 521,791 $ 35, 266 $ 36,019 63,605 49,480 81,552 52,185 9.730 4,083 259, 667 225,733 $ 449,820 $ 367,500 $ 128,627 99,078 163,500 130,586 $ 521,791 $76,780 $ 48,025 103,459 83,654 163,500 163,500 106,081 72,321 $ 449,820 $ 367,500 1. Express the balance sheets in common-size percents. (Do not round intermediate calculations and round your final percentage answers to 1 decimal place.) 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. Req1 Req 2 and 3 Express the balance sheets in common-size percents. (Do not round Intermediate calculations and round your final percentage answers to 1 decimal place.) SIMON COMPANY Complete this question by entering your answers in the tabs below. Reg 1 Req 2 and 3 Express the balance sheets in common-size percents. (Do not round intermediate calculations and round your final percentage answers to 1 decimal place.) SIMON COMPANY Common-Size Comparative Balance Sheets December 31 Current Year 1 Year Ago 2 Years Ago Assets Cash % % Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets % % Liabilities and Equity Accounts payable % % Long-term notes payable secured by mortgages on plant assets Common stock, $10 par Retained earnings Total liabilities and equilty % % a Real Req 2 and 3 >