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Required information Use the following information for the Exercises below. (Algo) The following information applies to the questions displayed below) Simon Company's year-end balance sheets follow At December 31 Current Year 1 Year Ago 2 Years Ago Assets Cash $ 28,092 $ 32,518 $ 31,900 Accounts receivable, not 80,629 56,349 42,968 Merchandise inventory 100, 381 74,461 47, 156 Prepaid expenses 8,283 3,653 Plant assets, net 244,206 226,892 203 123 Total assets $ 462,267 $ 398,506 $325,800 Liabilities and Equity Accounts payable 5.117,407 $ 66,674 $ 42,100 Long terw notes payable 34,299 92,573 71,212 Common stock, $10 par value 163,500 163,500 163,500 Retained earnings 97.061 75,759 51,95 Total liabilities and equity $ 462,267 $ 193,506 $320, 500 For both the current year and one year ago, compute the following ratios Exercise 13.6 (Algo) Common-size percents LO P2 1. Express the balance sheets in common size percents, Exercise 13-6 (Algo) Common-size percents LO P2 1. Express the balance sheets in common-size percents. 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. Regt Reg 2 and 3 Express the balance sheets in common size percents: (Do not found 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 Reg 1 Reg 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 9 % Accounts receivable net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable Long term notes payable Common stock 510 par Retained camings Total liabilities and equity Complete this question by entering your answers in the tabs below. Req1 Reg 2 and 3 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? Show less 2. Change in accounts receivable 3. Change in merchandise inventory