Friday, 9 October 2015

Simon Company's year-end balance sheets follow.

Exercise 17-7 Common-size percents LO P2
Simon Company's year-end balance sheets follow.
       
  At December 31     2014     2013     2012
  Assets                  
  Cash   $ 25,498   $ 30,106   $ 32,314  
  Accounts receivable, net     74,647     53,212     43,507  
  Merchandise inventory     92,916     70,315     44,986  
  Prepaid expenses     8,377     8,061     3,555  
  Plant assets, net     235,093     214,626     195,638  
     

 

 

  Total assets   $ 436,531   $ 376,320   $ 320,000  
     



 



 



  Liabilities and Equity                  
  Accounts payable   $ 111,957   $ 61,690   $ 41,818  
  Long-term notes payable secured by
  mortgages on plant assets
    80,426     85,688     72,842  
  Common stock, $10 par value     163,500     163,500     163,500  
  Retained earnings     80,648     65,442     41,840  
     

 

 

  Total liabilities and equity   $ 436,531   $ 376,320   $ 320,000  
     



 



 




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