13 Homework Simon Company\'s year-end balance sheets follow. Assets Accounts rec

Question

13 Homework Simon Company's year-end balance sheets follow. Assets Accounts receivable, net Nerchandise inventory Prepaid expenses Plant assets, net Total assets 31,800 S 35,625 $5 37,880 89,580 62,5805e,280 112,se0 82,500 54,890 5,808 278,see 255,000 238.500 523,00 $445,0 $ 377,580 10,700 9,375 Liabilities and Equity Accounts payable Long-term notes payable secured by $129,9ee s 75,25e s 51,258 mortgages on plant assets Conmon stock, $18 par value Retained earnings Total liabilities and equity 98, 58e 1e1,588 83,588 163, see 163,see 163,500 131.188 184,758 79,258 $523,00 $445,800 $377,580 in common-size percents. (Do not round Intermediate calculations and round your final percentage answers to 1 decimal place.) Common-Size Comparative Balance Sheets December 31, 2015-2017 2017 Assets Accounts receivable, net Prepaid expens Plant assats, ne Total assets Liabilities and Equity Accounts payabe Long-lerm nctes payable secured by mongages on plant assets Common stock 510 par Retained earnings Total lacilices and equty

Explanation / Answer

Simon company 2017 2016 2015 Assets Cash 6.1% 8.0% 10.0% Accounts receivable,net 17.1% 14.0% 13.3% Merchandise inventory 21.5% 18.5% 14.3% prepaid expenses 2.0% 2.1% 1.3% Plant assets,net 53.3% 57.3% 61.1% Total Assets 100.0% 100.0% 100.0% Liabilities and Equity Accounts paybale 24.8% 16.9% 13.6% long term notes payable 18.8% 22.8% 22.1% Common stock 31.3% 36.7% 43.3% Retained earnings 25.1% 23.5% 21.0% Total liabilities & Equity 100.0% 100.0% 100.0%

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