Simon Company\'s year-end balance sheets follow. Express the balance sheets in c

Question

Simon Company's year-end balance sheets follow. Express the balance sheets in common-size percents Round amounts to the nearest one-tenth of a percent. Analyze and comment on the results. At December 31 2017 2016 2015 Assets Cash Accounts receivable, net 89,500 62,500 50,200 112,500 82,500 54,000 5,000 278,500 255,000230,500 $523,000 $445,000 $377,500 . . . . 10,700 9,375 Liabilities and Equity $129,900 75,250 $51,250 Long-term notes payable secured by 98,500 101,500 83,500 163,500 163,500 163,500 Total liabilities and equity. $$23000 $445,000 $377 500

Explanation / Answer

Common Size Comparative Balance Sheets :-

Assets 2017 2016 2015 Cash 6.1% 8% 10% Accounts Receivable, Net 17.1% 14% 13.3% Merchandise Inventory 21.5% 18.5% 14.3% Prepaid Expenses 2% 2.1% 1.3% Plant Assets, Net 53.3% 57.3% 61.1% Total Assets 100% 100% 100% Liabilities and Equity Accounts Payable 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% Total Liabilities and Equity 100% 100% 100%

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