Question

Simon Company's year-end balance sheets follow. At December 31 2017 2016 2015 Assets Cash $ 27,791...

Simon Company's year-end balance sheets follow.

At December 31 2017 2016 2015
Assets
Cash $ 27,791 $ 31,529 $ 33,175
Accounts receivable, net 77,388 55,177 43,349
Merchandise inventory 96,307 72,912 46,633
Prepaid expenses 9,037 8,611 3,612
Plant assets, net

251,272

 229,870 208,331
Total assets $ 461,795 $ 398,099 $ 335,100
Liabilities and Equity
Accounts payable $ 116,137 $ 66,606 $ 44,676
Long-term notes payable secured by
mortgages on plant assets		 85,949 93,394 75,538
Common stock, $10 par value 163,500 163,500 163,500
Retained earnings 96,209 74,599 51,386
Total liabilities and equity $ 461,795 $ 398,099 $ 335,100


Express the balance sheets in common-size percents. (Do not round intermediate calculations and round your final percentage answers to 1 decimal place.)

SIMON COMPANY
Common-Size Comparative Balance Sheets
December 31, 2015-2017
2017 2016 2015
Assets
Cash % % %
Accounts receivable, net
Merchandise inventory
Prepaid expenses
Plant assets, net
Total assets % % %
Liabilities and Equity
Accounts payable % % %
Long-term notes payable secured by mortgages on plant assets
Common stock, $10 par
Retained earnings
Total liabilities and equity % % %
Business   Accounting   
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Answer #1

SIMON COMPANY

Common Size Cooperative Balance Sheets

December 31, 2015-2017

2017. 2016 . 2015.   

Assets Cash $27,791 6.0% $31,529 7.9% $33,175 9.9% Accounts Receivable, net 77,388 16.8% 55,177 13.9% 43,349 12.9% Merchandise Inventory 96,307 20.9% 72,912 18.3% 46,633 13.9% Prepaid expenses 9,037 1.9% 8,611 2.2% 3,612 1.1% Plant assets, net 251,272 54.4% 229,870 57.7% 208,331 62.2% Total assets $461,795 100% $398,099 100% $335,100 100% Liabilities and Equity Accounts Payable $116,137 25.2% $66,606 16.7% $44,676 13.3% Long term notes payable secured by mortgages on plant assets 85,949 18.6% 93,394 23.5% 75,538 22.6% Common stock, $10 par 163,500 35.4% 163,500 41.1% 163,500 48.8% Retained earnings 96,209 20.8% 74,599 18.7% 51,386 15.3% Total liabilities and equity $461,795 100% $398,099 100% $335,100 100%

% = Given amount ÷ Total assets × 100

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