Simon Company\'s year-end balance sheets follow. 2016 At December 31 Assets Cash

Question

Simon Company's year-end balance sheets follow. 2016 At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets 25,681 3e,819 31,576 41,276 45,291 3,588 191,849 S 435,278 375,248 $312,798 52,808 68,725 7,959 233 888 216 529 73,688 93,585 8,436 Liabilities and Equity Accounts payable Long-term notes payable secured by 185,133 62,781 41,689 82,651 mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity 88,894 163,508 163, 588 83 99468,865 78,489 163,588 S435,278 375,248 $312,788 Express the balance sheets in common-size percents. (Do not round Intermedlete calculetlons and round your final percentege answers to 1 decimal place.) Common-Size Comparative Balance Sheets December 31, 2015-2017 2017 2016 2015 Assets Cash Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable Long-term notes payable secured by mortgages on plant assets Common stock, 510 par Retained earnings Total liabilities and equity

Explanation / Answer

Common size percentage balance sheet :

2017 2016 2015 Assets Cash 6.0% 8.0% 10.1% Account receivable, net 16.9% 13.9% 13.2% Merchandise inventory 21.5% 18.3% 14.4% Prepaid expenses 1.9% 2.1% 1.1% Plant assets, net 53.7% 57.7% 61.1% Total assets 100% 100% 100% Account payable 24.2% 16.7% 13.3% Long term notes payable secured by mortgages on plant assets 19.0% 23.7% 22.5% Common stock, $10 par 37.6% 43.6% 52.3% Retained earnings 19.3% 16.0% 11.8% Total liabilities and equity 100% 100% 100%

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