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Required Information Use the following Information for the Exercises below. (Algo) [The following information applies to the questions displayed below.] Simon Company's year-end balance sheets follow. At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable Long-term notes payable Common stock, $10 par value Retained earnings Total liabilities and equity Current Year 1 Year Ago $23,920 69,328 88,056 7,860 224,536 $ 413,700 $101,981 76,998 $29,387 58,429 66,638 7,564 202,620 $356,638 $ 58,464 81,206 162,500 162,500 72,221 54,468 $ 413,700 $ 356,638 For both the current year and one year ago, compute the following ratios: 2 Years Ago $ 29,125 40,023 43,055 3,236 184,761 $ 300,200 $ 38,438 64,354 162,580 34,988 $ 300,200 Exercise 17-6 (Algo) Common-size percents LO P2 1. Express the balance sheets in common-size percents. 2. Assuming annual sales have not changed in the last three years, is the change in accounts receivable as a percentage of total assets favorable or unfavorable? 3. Assuming annual sales have not changed in the last three years, is the change in merchandise inventory as a percentage of total assets favorable or unfavorable? Complete this question by entering your answers in the tabs below. Req 1 Req 2 and 3 Express the balance sheets in common-size percents. Note: Do not round intermediate calculations and round your final percentage answers to 1 decimal place. SIMON COMPANY Common-Size Comparative Balance Sheets December 31 Current Year 1 Year Ago 2 Years Ago Assets Cash 5.8 % Accounts receivable, net 2,392.0 8.2 % 29,387.0 9.4 % Merchandise inventory Prepaid expenses Plant assets, net Total assets 100.0% 100.0 % 100.0 % Liabilities and Equity Accounts payable 46.4% 24.0% 27.1 % Long-term notes payable Common stock, $10 par Retained eamings Total liabilities and equity 100.0 % 100.0 % 100.0 %

Required Information Use the following Information for the Exercises below. (Algo) [The following information applies to the questions displayed below.] Simon Company's year-end balance sheets follow. At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable Long-term notes payable Common stock, $10 par value Retained earnings Total liabilities and equity Current Year 1 Year Ago $23,920 69,328 88,056 7,860 224,536 $ 413,700 $101,981 76,998 $29,387 58,429 66,638 7,564 202,620 $356,638 $ 58,464 81,206 162,500 162,500 72,221 54,468 $ 413,700 $ 356,638 For both the current year and one year ago, compute the following ratios: 2 Years Ago $ 29,125 40,023 43,055 3,236 184,761 $ 300,200 $ 38,438 64,354 162,580 34,988 $ 300,200 Exercise 17-6 (Algo) Common-size percents LO P2 1. Express the balance sheets in common-size percents. 2. Assuming annual sales have not changed in the last three years, is the change in accounts receivable as a percentage of total assets favorable or unfavorable? 3. Assuming annual sales have not changed in the last three years, is the change in merchandise inventory as a percentage of total assets favorable or unfavorable? Complete this question by entering your answers in the tabs below. Req 1 Req 2 and 3 Express the balance sheets in common-size percents. Note: Do not round intermediate calculations and round your final percentage answers to 1 decimal place. SIMON COMPANY Common-Size Comparative Balance Sheets December 31 Current Year 1 Year Ago 2 Years Ago Assets Cash 5.8 % Accounts receivable, net 2,392.0 8.2 % 29,387.0 9.4 % Merchandise inventory Prepaid expenses Plant assets, net Total assets 100.0% 100.0 % 100.0 % Liabilities and Equity Accounts payable 46.4% 24.0% 27.1 % Long-term notes payable Common stock, $10 par Retained eamings Total liabilities and equity 100.0 % 100.0 % 100.0 %

Managerial Accounting: The Cornerstone of Business Decision-Making
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter15: Financial Statement Analysis
Section: Chapter Questions
Problem 50E: Juroe Company provided the following income statement for last year: Juroes balance sheet as of...
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Required Information Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.] Simon Company's year-end balance sheets follow. At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable Long-term notes payable Common stock, $10 par value Retained earnings Total liabilities and equity Current Year 1 Year Ago 2 Years Ago $ 29,387 58,429 $ 29,125 40,023 66,638 $ 23,920 69,328 88,056 7,860 224,536 $ 413,700 7,564 282,628 $ 356,638 81,206 162,500 54,468 $101,981 76,998 $ 58,464 162,500 72,221 $ 413,780 $ 356,638 For both the current year and one year ago, compute the following ratios: 43,855 3,236 184,761 $ 300,200 $ 38,438 64,354 162,580 34,988 $ 300,200 Exercise 17-6 (Algo) Common-size percents LO P2 1. Express the balance sheets in common-size percents. 2. Assuming annual sales have not changed in the last three years, is the change in accounts receivable as a percentage of total assets favorable or unfavorable? 3. Assuming annual sales have not changed in the last three years, is the change in merchandise inventory as a percentage of total assets favorable or unfavorable? Complete this question by entering your answers in the tabs below. Req 1 Req 2 and 3 Express the balance sheets in common-size percents. Note: Do not round intermediate calculations and round your final percentage answers to 1 decimal place. SIMON COMPANY Common-Size Comparative Balance Sheets December 31 Current Year 1 Year Ago 2 Years Ago Assets Cash 5.8 % Accounts receivable, net 2,392.0 8.2 % 29,387.0 9.4 % Merchandise inventory Prepaid expenses Plant assets, net Total assets 100.0 % 100.0 % 100.0 % Liabilities and Equity Accounts payable 46.4 % 24.0% 27.1 % Long-term notes payable Common stock, $10 par Retained earnings Total liabilities and equity 100.0 % 100.0 % 100.0 %
Transcribed Image Text:Required Information Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.] Simon Company's year-end balance sheets follow. At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable Long-term notes payable Common stock, $10 par value Retained earnings Total liabilities and equity Current Year 1 Year Ago 2 Years Ago $ 29,387 58,429 $ 29,125 40,023 66,638 $ 23,920 69,328 88,056 7,860 224,536 $ 413,700 7,564 282,628 $ 356,638 81,206 162,500 54,468 $101,981 76,998 $ 58,464 162,500 72,221 $ 413,780 $ 356,638 For both the current year and one year ago, compute the following ratios: 43,855 3,236 184,761 $ 300,200 $ 38,438 64,354 162,580 34,988 $ 300,200 Exercise 17-6 (Algo) Common-size percents LO P2 1. Express the balance sheets in common-size percents. 2. Assuming annual sales have not changed in the last three years, is the change in accounts receivable as a percentage of total assets favorable or unfavorable? 3. Assuming annual sales have not changed in the last three years, is the change in merchandise inventory as a percentage of total assets favorable or unfavorable? Complete this question by entering your answers in the tabs below. Req 1 Req 2 and 3 Express the balance sheets in common-size percents. Note: Do not round intermediate calculations and round your final percentage answers to 1 decimal place. SIMON COMPANY Common-Size Comparative Balance Sheets December 31 Current Year 1 Year Ago 2 Years Ago Assets Cash 5.8 % Accounts receivable, net 2,392.0 8.2 % 29,387.0 9.4 % Merchandise inventory Prepaid expenses Plant assets, net Total assets 100.0 % 100.0 % 100.0 % Liabilities and Equity Accounts payable 46.4 % 24.0% 27.1 % Long-term notes payable Common stock, $10 par Retained earnings Total liabilities and equity 100.0 % 100.0 % 100.0 %
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