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Accounting
Required information Skip to question The following information applies to the questions displayed below. Simon Company's yearend balance sheets follow. At December Current Year Year Ago Years AgoAssetsCash$ $ $ Accounts receivable, netMerchandise inventoryPrepaid expensesPlant assets, netTotal assets$ $ $ Liabilities and EquityAccounts payable$ $ $ Longterm notes payableCommon stock, $ par valueRetained earningsTotal liabilities and equity$ $ $ For both the current year and one year ago, compute the following ratios: Express the balance sheets in commonsize percents. 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? Assuming annual sales have not changed in the last three years, is the change in merchandise inventory as a percentage of total assets favorable or unfavorable?
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Simon Company's yearend balance sheets follow.
At December Current Year Year Ago Years AgoAssetsCash$ $ $ Accounts receivable, netMerchandise inventoryPrepaid expensesPlant assets, netTotal assets$ $ $ Liabilities and EquityAccounts payable$ $ $ Longterm notes payableCommon stock, $ par valueRetained earningsTotal liabilities and equity$ $ $
For both the current year and one year ago, compute the following ratios:
Express the balance sheets in commonsize percents.
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?
Assuming annual sales have not changed in the last three years, is the change in merchandise inventory as a percentage of total assets favorable or unfavorable?
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