Question

Exercise 13-6 Common-size percents LO P2

Simon Company's year-end balance sheets follow.

At December 31 2017 2016 2015 Assets    

Cash   $27,709 $32,720 $35,474 Accounts receivable, net 83,587 57,838 47,299

Merchandise inventory 100,974 74,136 49,386

Prepaid expenses 9,014 8,502 3,787

Plant assets, net 257,946 239,933 215,354

Total assets $479,230 $413,129 $351,300

Liabilities and Equity         

Accounts payable $119,328 $71,215 $45,908

Long-term notes payable secured by
mortgages on plant assets 92,798 95,020 77,637

Common stock, $10 par value 163,500 163,500 163,500

Retained earnings 103,604 83,394 64,255

Total liabilities and equity $479,230 $413,129 $351,300

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

Answer 1

		Simon company
			2017	2016	2015
Assets
Cash			5.8%	7.9%	10.1%
Accounts receivable,net			17.4%	14.0%	13.5%
Merchandise inventory			21.1%	17.9%	14.1%
prepaid expenses			1.9%	2.1%	1.1%
Plant assets,net			53.8%	58.1%	61.3%
Total Assets			100.0%	100.0%	100.0%
Liabilities and Equity
Accounts paybale			24.9%	17.2%	13.1%
long term notes payable			19.4%	23.0%	22.1%
Common stock			34.1%	39.6%	46.5%
Retained earnings			21.6%	20.2%	18.3%
Total liabilities & Equity			100.0%	100.0%	100.0%