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2 Simon Company's year-end balance sheets follow. 19 Required: 20 1. Express the balance sheets in common-size percents. 21 22 (Use cells A4 to D17 from the given information to complete this question.) 23 24 SIMON COMPANY 25 Common-Size Comparative Balance Sheets 26 27 Current Year 1 Year Ago 2 Years Ago 28 Assets 29 Cash 30 Accounts receivable, net 31 Merchandise inventory 32 Prepaid expenses Graded Worksheet Calculation Mode: Automatic Workbook Statistics 22 (Use cells A4 to D17 from the given information to complete this question.) 23 24 SIMON COMPANY 25 Common-Size Comparative Balance Sheets 26 December 31 27 28 Assets 29 Cash 30 Accounts receivable, net 31 Merchandise inventory 32 Prepaid expenses 33 Plant assets, net 34 Total assets 35 Liabilities and Equity 36 Accounts payable 37 Long-term notes payable 38 Common stock, \$10 par 39 Retained earnings 40 Total liabilities and equity Current Year 1 Year Ago 2 Years Ago 41 42 2. Assuming annual sales have not changed in the last three years, is the change in accounts receivable as a percentage of total 43 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? 2. Change in accounts receivable 3. Change in merchandise inventory