Question

Simon Company’s year-end balance sheets follow.

At December 31	2017			2016			2015
Assets
Cash	$	31,800		$	35,625		$	37,800
Accounts receivable, net		89,500			62,500			50,200
Merchandise inventory		112,500			82,500			54,000
Prepaid expenses		10,700			9,375			5,000
Plant assets, net		278,500			255,000			230,500
Total assets	$	523,000		$	445,000		$	377,500
Liabilities and Equity
Accounts payable	$	129,900		$	75,250		$	51,250
Long-term notes payable secured by mortgages on plant assets		98,500			101,500			83,500
Common stock, $10 par value		163,500			163,500			163,500
Retained earnings		131,100			104,750			79,250
Total liabilities and equity	$	523,000		$	445,000		$	377,500

Express the balance sheets in common-size percents

Answer 1

Simon Company

Balance sheets in common-size percents

At December 31	2017	2016	2015	2017	2016	2015
Assets
	($)	($)	($)	(%)	(%)	(%)
Cash	$ 31,800	$ 35,625	$ 37,800	6.08	8.01	10.01
Accounts receivable, net	$ 89,500	$ 62,500	$ 50,200	17.11	14.04	13.30
Merchandise inventory	$112,500	$ 82,500	$ 54,000	21.51	18.54	14.30
Prepaid expenses	$ 10,700	$ 9,375	$ 5,000	2.05	2.11	1.32
Plant assets, net	$278,500	$255,000	$230,500	53.25	57.30	61.06
Total assets	$523,000	$445,000	$377,500	100.00	100.00	100.00
Liabilities and Equity
Accounts payable	$129,900	$ 75,250	$ 51,250	24.84	16.91	13.58
Long-term notes payable secured by	$ 98,500	$101,500	$ 83,500	18.83	22.81	22.12
mortgages on plant assets
Common stock, $10 par value	$163,500	$163,500	$163,500	31.26	36.74	43.31
Retained earnings	$131,100	$104,750	$ 79,250	25.07	23.54	20.99
Total liabilities and equity	$523,000	$445,000	$377,500	100.00	100.00	100.00