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 | |||
Conmon-Size Comparative Balance Sheets | |||
December 31 | |||
Current year | 1 Year ago | 2 Years ago | |
Assets | |||
Cash | 6.0% | 7.8% | 9.6% |
Accounts receivable, net | 17.1% | 14.3% | 13.2% |
Merchandise inventor/y | 22.1% | 17.9% | 14.2% |
Prepaid expenses | 1.9% | 2.0% | 1.1% |
Plant assets, net | 52.9% | 57.9% | 61.9% |
Total assets | 100.0% | 100.0% | 100.0% |
Liabilities and Equity | |||
Accounts payable | 25.1% | 17.1% | 13.2% |
Long-term notes payable secured by mortgages on plant assets |
18.6% | 22.8% | 22.1% |
Common stock, $10 par | 33.5% | 38.9% | 47.2% |
Retained earnings | 22.7% | 21.3% | 17.5% |
Total liabilities and equity | 100.0% | 100.0% | 100.0% |
Express the balance sheets in common-size percents. (Do not round intermediate calculations and round your final percent...
Exercise 13-6 Common-size percents LO P2 Simon Company's year-end balance sheets follow. Current Yr 1 Yr Ago 2 Yrs Ago 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 secured by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity $ 32,972 93,653 121,355 10,300 300,573 $558,853 $ 39,312 $ 38,172 65,424 51,421 90,910 57,574 10,117 4,329 276,007...
Exercise 13-6 Common-size percents LO P2 Simon Company's year-end balance sheets follow. Current Yri Yr Ago 2 Yrs Ago 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 secured by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity $ 27,842 81,493 102,462 8,877 246,551 $ 467,225 $ 31,900 $ 33,908 55,825 46,114 74,514 48,635 8,458 3,805 232,083...
exercise 13-6 ammon-size percents Simon Company's year-end balance sheets follow. (1) Express the balance sheets in common-size per- cents. Round percents to one decimal. (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) Is the change in merchandise inventory as a percentage of total assets favorable or unfavorable? Chapter 13 Analysis of Financial Statements Current Yr 1 Yr Ago 2 Yrs...
Exercise 13-6 Common-size percents LO P2 Simon Company's year-end balance sheets follow. Current Yr 1 Yr Ago 2 Yrs Ago 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 secured by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity $ 30,524 88.468 106.826 9.927 276,488 $ 512,233 $ 35,680 $ 37,902 63,676 50,046 80,058 53,837 EL 9,366...
Simon Company's year-end balance sheets follow. Current Yr 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 secured by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity $ 28,758 81,700 101,685 8,986 261,477 $ 482,606 1 Yr Ago 2 Yrs Ago $ 33,283 $ 33,980 59,411 47,137 78,507 49,231 8,475 3,737 236,364 212,615 $ 416,840 $ 346,700...
Exercise 13-6 Common-size percents LO P2 Simon Company's year-end balance sheets follow. At December 31 2017 2016 2015 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net $ 33,349 $ 40,163 $ 96,655 123,980 10,631 306,329 $ 570,944 $ 492,193 $ 406,100 68,218 89,235 10,336 284,241 41,008 53,069 58,243 4,467 249,313 Total assets Liabilities and Equity Accounts payable Long-term notes payable secured by mortgages on plant assets Common stock, $10 par value Retained earnings $ 142,165 $...
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...
Exercise 13-6 Common-size percents LO P2 Simon Company's year-end balance sheets follow. Current Yr 1 Yr Ago 2 Yrs Ago 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 secured by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity $ 26,310 77,041 99,830 8,910 247,637 $ 459,728 $ 32,339 $ 32,696 54,930 44,916 71,119 46,897 8,406 3,560...
Exercise 13-6 Common-size percents LO P2 Simon Company's year-end balance sheets follow. 2015 2014 2013 $ At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net 26,198 75,931 94,533 8,106 230,567 $ 30,323 $ 30,961 53,066 42,116 67,346 46,204 7,8813,440 216,673 193,179 Total assets $ 435,335 $375,289 $315,900 $ 107,314 $ 62,155 $ 40,448 Liabilities and Equity Accounts payable Long-term notes payable secured by mortgages on plant assets Common stock, $10 par value Retained earnings...
Che Express the following comparative income statements in common-size percents. Using the common-size percentages, which item is most responsible for the decline in net income? Income Statement Reason for Decline in Net Income Express the following comparative income statements in common-size percents. (Round your percentage answers to 1 decimal place.) the GOMEZ CORPORATION Comparative Income Statements For Years Ended December 31 Current Year Prior Year $ % $ Sales $ 795,000 $ 690,000 Cost of goods sold 568,100 286,600 Gross...