Question 6 - Ch. 17 Assignmen X Homework Help - Q&A from Or x + ( ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fonline.pmi.edu%252Fwebapps%252Fblackb... Update : Ch. 17 Assignment i Saved Help Save & Exit Submit Check my work 6 Required information Part 1 of 5 Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.] 1.08 Simon Company's year-end balance sheets follow. points At December 31 Current Year 1 Year Ago 2 Years Ago Skipped Assets Cash $ 35, 479 $ 42, 309 $ 42, 352 Accounts receivable, net 105, 944 74, 774 57 , 599 Merchandise inventory 134, 510 96 , 871 58 , 925 Prepaid expenses 11 , 772 11 , 326 4, 659 Plant assets, net 319, 702 298, 347 264, 265 eBook Total assets $ 607, 407 $ 523, 627 $ 427, 800 Liabilities and Equity Accounts payable $ 152, 757 $ 87, 608 $ 57, 034 Hint Long-term notes payable 110 , 767 119, 230 91 , 707 Common stock, $10 par value 162 , 500 162, 500 163, 500 Retained earnings 181, 383 154 , 289 115 , 559 Total liabilities and equity $ 607, 407 $ 523, 627 $ 427, 800 Print For both the current year and one year ago, compute the following ratios: References Exercise 17-6 (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? Mc Graw HillQuestion 6 - Ch. 17 Assignmen X Homework Help - Q&A from Or x + ( ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fonline.pmi.edu%252Fwebapps%252Fblackb... Update : Ch. 17 Assignment i Saved Help Save & Exit Submit Check my work 6 1SOCIO IUVVIUNIC VI UIIIUVVIONIC: Required information Part 1 of 5 Complete this question by entering your answers in the tabs below. 1.08 Req 1 Req 2 and 3 points Express the balance sheets in common-size percents. (Do not round intermediate calculations and round your final percentage Skipped answers to 1 decimal place.) SIMON COMPANY Common-Size Comparative Balance Sheets eBook December 31 Current Year 1 Year Ago 2 Years Ago Assets Hint Cash % % % Accounts receivable, net Merchandise inventory Print Prepaid expenses Plant assets, net Total assets % % % References Liabilities and Equity Accounts payable % % % Long-term notes payable Common stock, $10 par Retained earnings Total liabilities and equity % % % Mc Graw Hill