QS 17-3, QS 17-5, Exercise 17-4 and Exercise 17-6 Chegg.com DS 17-5, Exercise 17-4 and Exercise 17-6 Help Simon Company's year-end balance sheets follow. Current Yr At December 31 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 value Retained earnings Total liabilities and equity $ 33, 386 98,737 121, 660 11,300 312,328 $577,411 1 Yr Ago 2 Yrs Ago $ 39,625 $ 41,472 70,384 55,297 93,929 57,153 10,662 4,653 283,768 252, 125 $ 497,768 $ 410,700 $ 142,338 $ 86,646 $ 54,212 109,639 163,500 161,934 $ 577,411 115,632 88,949 163,500 163,500 131,990 104,039 $ 497,768 $ 410,700 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. his question by hy your answers in the Laus verw. Reg 1 Req 2 and 3 Express the balance sheets in common-size percents. (Do not round intermediate calculations and round your final percentag 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 equity m tv A T UDUH Netflix OMEGA accounting OS 17-3, OS 17-5. Exercise 17-4 and Exercise 17-8 OS 17-3, QS 17-5, Exercise 17-4 and Exercise 17-6 Chegg.com 4 Complete this question by entering your answers in the tabs below. 10 points Req 1 Req 2 and 3 Skipped 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? Show less eBook Hint References 2. Change in accounts receivable 3. Change in merchandise inventory - Req1 Regaan olan APO