Simon Company's year-end balance sheets follow. (1) Express the balance sheets in common-size percents. Round...
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Accounting
Simon Company's yearend balance sheets follow. Express the balance sheets in commonsize percents. Round percents to one decimal. 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? Is the change in merchandise inventory as a percentage of total assets favorable or unfavorable?
At December
Current
Yr Ago
Yrs Ago
Assets
Cash.
Accounts receivable, net
Merchandise inventory
Prepaid expenses
Plant assets, net
Total assets
Llabilities and Equity
Accounts payable...
Longterm notes payable
Common stock, $ par value.
Retained earnings.
Total liabilities and equity.
Exercise
Commonsize percents P
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