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 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 $ 82,349 $ 52,533 116,601 163,500 129,743 $ 570,944 $ 492,193 $ 406,100 108,411 163,500 156,868 87,953 163,500 102,114 Total liabilities and equity 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

Answer 1

SIMON COMPANY
Common size Comparative balance sheets
Dec 31, 2015-17
	2017		2016		2015			Calculation example
	Amount $	Percentage	Amount $	Percentage	Amount $	Percentage
Assets
Cash	33349	5.84	40163	8.16	41008	10.10		33349*100/570944 = 5.84
Accounts receivable	96655	16.93	68218	13.86	53069	13.07
Merchandise Inventory	123980	21.71	89235	18.13	58243	14.34
Prepaid expenses	10631	1.86	10336	2.10	4467	1.10
Plant assets, net	306329	53.65	284241	57.75	249313	61.39
Total Assets	570944	100	492193	100	406100	100
Liabi. & Equity
Accounts payable	142165	24.90	82349	16.73	52533	12.94
Long term nots payable	108411	18.99	116601	23.69	87953	21.66
Common Stock, $10 par	163500	28.64	163500	33.22	163500	40.26
Retained earnings	156868	27.48	129743	26.36	102114	25.15
Total Liab. & Equity	570944	100	492193	100	406100	100