Simon Company\'s year-end balance sheets follow. At December 31 Accounts receiva

Question

Simon Company's year-end balance sheets follow. At December 31 Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net $ 25,267 S 30,131 $31,387 75,450 50,642 41,435 92,074 68,299 44,128 8,301 8,066 3,418 193,532 231,487 215,775 Total assets $432,579 $372,913 s313,900 Liabilities and Equity Accounts payable Long-term notes payable secured by $106,635 $ 62,392 $41,849 mortgages on plant assets Common stock, $10 par value Retained earnings 79,698 84,912 71,453 163,500 82,746 62,109 37,098 163,500 163,500 Total liabilities and equity $432,579 $372,313 s313,900 Express the balance sheets 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, 2013-2015 2015 2014 2013 Cash Accounts receivable, net Merchandise in Plant assets, net Total assets Accounts payable Long-term notes payable secured by mortgages on plant assets Common stock Retained earnings Total iabilities and

Explanation / Answer

SIMON COMPANY Common-Size Comparative Balance Sheets December 31, 2015, 2014, and 2013 2015 2014 2013 % % % Cash       25,267.0 5.8%          30,131.0 8.1%       31,387.0 10.0% Account Receivables       75,450.0 17.4%          50,642.0 13.6%       41,435.0 13.2% Merchandise Inventory       92,074.0 21.3%          68,299.0 18.3%       44,128.0 14.1% Prepaid Expenses         8,301.0 1.9%            8,066.0 2.2%         3,418.0 1.1% Plant assets     231,487.0 53.5%        215,775.0 57.9%     193,532.0 61.7% Total Assets     432,579.0 100.0%        372,913.0 100.0%     313,900.0 100.0% Account payables     106,635.0 24.7%          62,392.0 16.7%       41,849.0 13.3% long term note payables       79,698.0 18.4%          84,912.0 22.8%       71,453.0 22.8% common stock $10 par     163,500.0 37.8%        163,500.0 43.8%     163,500.0 52.1% Retainer earnings       82,746.0 19.1%          62,109.0 16.7%       37,098.0 11.8% Total liabilities and equity     432,579.0 100.0%        372,913.0 100.0%     313,900.0 100.0%

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