Question

Simon Company’s year-end balance sheets follow.

At December 31	2017			2016			2015
Assets
Cash	$	31,800		$	35,625		$	37,800
Accounts receivable, net		89,500			62,500			50,200
Merchandise inventory		112,500			82,500			54,000
Prepaid expenses		10,700			9,375			5,000
Plant assets, net		278,500			255,000			230,500
Total assets	$	523,000		$	445,000		$	377,500
Liabilities and Equity
Accounts payable	$	129,900		$	75,250		$	51,250
Long-term notes payable secured by mortgages on plant assets		98,500			101,500			83,500
Common stock, $10 par value		163,500			163,500			163,500
Retained earnings		131,100			104,750			79,250
Total liabilities and equity	$	523,000		$	445,000		$	377,500

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

Ans.	SIMON   COMPANY
	Common Size Comparative Balance Sheets
	December 31, 2015 - 2017
		2017		2016		2015
	Assets:	Amount	%	Amount	%	Amount	%
	Cash	$31,800	6.08%	$35,625	8.01%	$37,800	10.01%
	Accounts receivables	$89,500	17.11%	$62,500	14.04%	$50,200	13.30%
	Merchandise inventory	$112,500	21.51%	$82,500	18.54%	$54,000	14.30%
	Prepaid expenses	$10,700	2.05%	$9,375	2.11%	$5,000	1.32%
	Plant assets, net	$278,500	53.25%	$255,000	57.30%	$230,500	61.06%
	Total assets	$523,000	100.00%	$445,000	100.00%	$377,500	100.00%
	Liabilities and Equity:
	Accounts payable	$129,900	32.48%	$75,250	18.81%	$51,250	12.81%
	Long term notes payable	$98,500	18.83%	$101,500	22.81%	$83,500	22.12%
	Common stock	$163,500	31.26%	$163,500	36.74%	$163,500	43.31%
	Retained earnings	$131,100	25.07%	$104,750	23.54%	$79,250	20.99%
	Total Liabilities and Equity	$523,000	100.00%	$445,000	100.00%	$377,500	100.00%
	*Calculations for Common Size Balance Sheet:
	Amount is percentage from assets side (2017) =   Particular amount from assets side (2017) / Total assets (2017) * 100
	Amount is percentage from liabilities side (2017) =   Particular amount from liability side (2017)/ Total liabilities and owner's equity (2017) * 100
	Amount is percentage from assets side (2016) =   Particular amount from assets side (2016) / Total assets (2016) * 100
	Amount is percentage from liabilities side (2016) =   Particular amount from liability side (2016)/ Total liabilities and owner's equity (2016) * 100
	Amount is percentage from assets side (2015) =   Particular amount from assets side (2015) / Total assets (2015) * 100
	Amount is percentage from liabilities side (2015) =   Particular amount from liability side (2015)/ Total liabilities and owner's equity (2015) * 100