[The following information applies to the questions displayed below.] Simon Company's year-end...
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The following information applies to the questions displayed below. Simon Company's yearend balance sheets follow. At December Current Year Year Ago Years Ago Assets Cash $ $ $ Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets $ $ $ Liabilities and Equity Accounts payable $ $ $ Longterm notes payable Common stock, $ par value Retained earnings Total 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 favourable or unfavourable? Assuming annual sales have not changed in the last three years, is the change in merchandise inventory as a percentage of total assets favourable or unfavourable?
The following information applies to the questions displayed below.
Simon Company's yearend balance sheets follow.
At December Current Year Year Ago Years Ago
Assets
Cash $ $ $
Accounts receivable, net
Merchandise inventory
Prepaid expenses
Plant assets, net
Total assets $ $ $
Liabilities and Equity
Accounts payable $ $ $
Longterm notes payable
Common stock, $ par value
Retained earnings
Total 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 favourable or unfavourable?
Assuming annual sales have not changed in the last three years, is the change in merchandise inventory as a percentage of total assets favourable or unfavourable?
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