Required Information Use the following information for the Exercises below. (Algo) [The following information opplies to the questions displayed below.] Simon Company's yesr-end balance sheets follow. At Decerber 31 1 Yr Ago 2 Yrs Ago Current Yr Assets $ 27,625 78,479 $ 32, 291S 55,949 Cash 32,800 43,960 Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net 99,669 8,896 248, 909 73,193 8,225 229,978 44,972 3,663 201,905 Total assets $ 463,578 $ 399,636 $ 326, 500 Liabilities and Equity Accounts payable Long term notes payable Comnon stack, $1e par value Retained earnings Total liabilities and equity $ 117,740 87,153 162,580 96,185 24 66,863 $ 98,078 42,236 71,435 163,S00 162, 500 s8,195 49,329 $ 463,578 $ 399,636 $ 326,580 Exerclse 13-6 (Algo) Common-size percents LO P2 1. Express the balance sheets in common-size percents. 2 Assuming annual sales hove not changed in the lest three years, is the change in sccounts receivable os a percentage of totsl assets favorable or unfavorable? 3. 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? Complete this question by entering your answers in the tabs below. Req 1 Req 2 and 3 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 Shests December 31 Current Year 1 Year Ago 2 Yeare Ago ABeete Cash % Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Llabilities and Equity Accounts payable Lang-term nates payable Camman stock, $10 par Retained eamings Total liabilities and equity Req 1 Req 2 and 3 > Exercise 13-9 (Algo) Part 4 (4-a) Compute days' sales in inventory. (4-b) For each ratio, determine if it improved or worsened in the current year. Complete this question by entering your answers in the tabs below. Required 4A Required 4B Compute days' sales in inventory. Days' Sales In Inventory Choose Numerator: Choose Denominator: Days Days' Sales In Inventory Days' sales in inventory Current Yr: days 1 Yr Ago: days X.