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