Exerclse 17-6 Common-size percents LO P2 Simon Company\'s year-end balance sheet

Question

Exerclse 17-6 Common-size percents LO P2 Simon Company's year-end balance sheets follow. 10 points Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets $ 32,8e136,688$ 38,281 48,937 54,256 4,161 232,745 $ 526,594 453,960 378,388 96,948 113,218 18,185 61,648 83,983 9,438 286,322 262,211 Liabilities and Equity Accounts payable Long-term notes payable secured by $ 129,811$75,185 51,434 mor tgages on plant assets Comnon stock, $18 par value Retained earnings 82,768 163,580 63 112,952 8,598 $ 526,594 $ 453,968$ 378,308 97,028 182,323 163,58 163,588 136,263 Total Iabilities and equity Express the balance sheets In common-glze percents. (Do not round intermedlate calculatlons and round your final pe answers to 1 decimal place.) COMPAN Common-Size Comparative Balance Sheets December 31, 2015-2017 2017 2016 2015 Assets Cash Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payabla Long-term notes payable secured by mortgages on plant assets Common stock, $10 par Retained earnings Total liabilities and equity

Explanation / Answer

SIMON COMPANY Common-Size Comparative Balance Sheets December 31, 2017-2015 2017 2016 2015 Cash 6.1% 8.1% 10.1% Accounts receivable, net 17.3% 13.6% 12.9% Merchandise inventory 21.5% 18.5% 14.3% Prepaid expenses 1.9% 2.1% 1.1% Plant assets, net 53.2% 57.8% 61.5% Total assets 100.0% 100.0% 100.0% Accounts payable 24.7% 16.6% 13.6% Long-term notes payable secured by mortgages on plant assets 18.4% 22.5% 21.9% Common stock, $10 par 31.0% 36.0% 43.2% Retained earnings 25.9% 24.9% 21.3% Total liabilities and equity 100.0% 100.0% 100.0%

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