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Simon Company's year-end balance sheets At December 31 2017 2016 2015 Assets Cash $34,248 $41,667 $44,275...

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Accounting

Simon Company's year-end balance sheets At December 31 2017 20162015 Assets Cash $34,248 $41,667 $44,275 Accounts receivable, net99,261 71,487 58,461 Merchandise inventory 127,348 94,465 61,040Prepaid expenses 11,367 10,937 4,872 Plant assets, net 320,094292,063 265,552 Total assets $592,318 $510,619 $434,200 Liabilitiesand Equity Accounts payable $147,487 $87,158 $57,314 Long-termnotes payable secured by mortgages on plant assets 113,583 120,96698,837 Common stock, $10 par value 163,500 163,500 163,500 Retainedearnings 167,748 138,995 114,549 Total liabilities and equity$592,318 $510,619 $434,200 Express the balance sheets incommon-size percents. (Do not round intermediate calculations andround your final percentage answers to 1 decimal place.)



Answer & Explanation Solved by verified expert
3.8 Ratings (442 Votes)

Ans: Common size balance sheet is showing each line item of balance sheet as a percentage of total assets.

Assets 2017 Percentage of assets 2016 Percentage of assets 2015 Percentage of assets
Cash 32248 5.5% 41667 8.2% 44275 10.2%
Accounts receivable 99261 16.8% 71487 14.0% 58461 13.5%
Mechandise inventory 127348 21.6% 94465 18.5% 61040 14.1%
Prepaid expenses 11367 1.9% 10937 2.1% 4872 1.1%
Plant assets, net 320094 54.2% 292063 57.2% 265552 61.2%
Total assets 590318 510619 434200
Liabilities and equity
Accounts payable 147487 25.0% 87158 17.1% 57314 13.2%
Long-term notes payable secured by mortgages on plant assets 113583 19.2% 120966 23.7% 98837 22.8%
common stock 163500 27.7% 163500 32.0% 163500 37.7%
Retained earnings 167748 28.4% 138995 27.2% 114549 26.4%
total equity and liabilities 592318 510619 434200

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