Please show the correct answers Step by Step. Thanks! Simon Company\'s year-end

Question

Please show the correct answers Step by Step. Thanks!

Simon Company's year-end balance sheets follow.

269,190

Express the balance sheets in common-size percents. (Do not round intermediate calculations and round your final percentage answers to 1 decimal place.)

At December 31 2017 2016 2015 Assets Cash $ 29,190 $ 34,461 $ 35,535 Accounts receivable, net 82,909 60,308 47,844 Merchandise inventory 104,242 78,114 50,969 Prepaid expenses 9,212 9,136 3,871 Plant assets, net

269,190

244,484 213,681 Total assets $ 494,743 $ 426,503 $ 351,900 Liabilities and Equity Accounts payable $ 126,887 $ 74,241 $ 46,915 Long-term notes payable secured by
mortgages on plant assets 90,221 100,058 76,992 Common stock, $10 par value 163,500 163,500 163,500 Retained earnings 114,135 88,704 64,493 Total liabilities and equity $ 494,743 $ 426,503 $ 351,900 Check my work ,0,2?? 163, see Conmon stock, $18 par value Retained earnings Total liabilities and equity 163,5e 163,sea 1,13588 % 494,743 % 426,583 % 351 ,9ee Express the balance sheets In common-size percents. (Do not round Intermediete calculetions and round your finel percentege answers to 1 decimal place.) Common-Size Comparative Balance Sheets December 31, 2015-2017 2017 2016 2015 Assets Propaid axpanses Plant assets, net Total assets Liabilities and Equity Accounts payable Long-term noter payable zacurad by Rafarancc: mortgages on plant azsets Commonstock, $10 par Retained earnings Total liabilitics and equity

Explanation / Answer

Common Size balance Sheet Assets 2017 2016 2015 Cash 5.90% 8.08% 10.10% Accounts receivable 16.76% 14.14% 13.60% Merchandise inventory 21.07% 18.31% 14.48% Prepaid expense 1.86% 2.14% 1.10% Plant assets net 54.41% 57.32% 60.72% Total Assets' 100.00% 100.00% 100.00% Liabilities and equity: Accounts payabe 25.65% 17.41% 13.33% Long term notes payable 18.24% 23.46% 21.88% Common Stock 33.05% 38.34% 46.46% Retained earnings 23.07% 20.80% 18.33% Total liabilities and equity 100.00% 100.00% 100.00%

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