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 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Current Year 1 Year Ago $ 35,477 $ 29,160 86,240 110,600 9,295 269,035 62,085 81,236 9,313 246,656 $ 504,330 $ 434,767 2 Years Ago $ 35,868 48,800 53,022 4,107 227,903 $ 369,700 Liabilities and Equity Accounts payable Long-term notes payable Common stock, $10 par value Retained earnings Total liabilities and equity For both the current year and one year ago, compute the following ratios: $ 126,834 91,970 163,500 122,026 $ 74,210 100,996 162,500 97,061 $ 49,288 80,070 163,500 76,842 $ 504,330 $ 434,767 $ 369,700 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?
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. For both the current year and one yoar ago, compute the following ratios: 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 
