Question

Simon Company's year-end balance sheets At December 31 2017 2016 2015 Assets Cash $34,248 $41,667 $44,275 Accounts receivable, net 99,261 71,487 58,461 Merchandise inventory 127,348 94,465 61,040 Prepaid expenses 11,367 10,937 4,872 Plant assets, net 320,094 292,063 265,552 Total assets $592,318 $510,619 $434,200 Liabilities and Equity Accounts payable $147,487 $87,158 $57,314 Long-term notes payable secured by mortgages on plant assets 113,583 120,966 98,837 Common stock, $10 par value 163,500 163,500 163,500 Retained earnings 167,748 138,995 114,549 Total liabilities and equity $592,318 $510,619 $434,200 Express the balance sheets in common-size percents. (Do not round intermediate calculations and round your final percentage answers to 1 decimal place.)

Answer 1

Ans: Common size balance sheet is showing each line item of balance sheet as a percentage of total assets.

Assets	2017	Percentage of assets	2016	Percentage of assets	2015	Percentage of assets
Cash	32248	5.5%	41667	8.2%	44275	10.2%
Accounts receivable	99261	16.8%	71487	14.0%	58461	13.5%
Mechandise inventory	127348	21.6%	94465	18.5%	61040	14.1%
Prepaid expenses	11367	1.9%	10937	2.1%	4872	1.1%
Plant assets, net	320094	54.2%	292063	57.2%	265552	61.2%
Total assets	590318		510619		434200
Liabilities and equity
Accounts payable	147487	25.0%	87158	17.1%	57314	13.2%
Long-term notes payable secured by mortgages on plant assets	113583	19.2%	120966	23.7%	98837	22.8%
common stock	163500	27.7%	163500	32.0%	163500	37.7%
Retained earnings	167748	28.4%	138995	27.2%	114549	26.4%
total equity and liabilities	592318		510619		434200