Exercise 13-7 Common-size percents LO P2 Simon Company\'s year-end balance sheet

Question

Exercise 13-7 Common-size percents LO P2 Simon Company's year-end balance sheets follow 2012 At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net 2014 2013 $ 37,761 $ 41,975 $ 43,742 107,296 78,000 57,144 138,952 101,070 63,375 11,803 11,246 4,860 331,651 308,625 277,179 Total assets $ 627,463 $ 540,916 $446,300 Liabilities and Equity Accounts payable Long-term notes payable secured by $160,925 $ 92,329 $ 60,090 mortgages on plant assets Common stock, $10 par value Retained earnings 119,143 25,655 98,632 163,500 163,500 163,500 183,895 159,432 124,078 Total liabilities and equity $ 627,463 $ 540,916 $446,300 Express the balance sheets in common-size percents. (Do not round intermediate calculations and round your final answers to 1 decimal place.)

Explanation / Answer

Answer:

Common Size Balance Sheet

Particulars 2014 2013 2012 Amount Percentage Amount Percentage Amount Percentage Cash 37761 6.0 41975 7.8 43742 9.8 Accounts Receivable 107296 17.1 78000 14.4 57144 12.8 Merchandise Inventory 138952 22.1 101070 18.7 63375 14.2 Prepaid Expenses 11803 1.9 11246 2.1 4860 1.1 Plant Assets 331651 52.9 308625 57.1 277179 62.1 Total Assets 627463 100 540916 100 446300 100 Accounts Payable 106925 47.3 92329 42.4 60090 37.9 Long Term Notes 119143 52.7 125655 57.6 98632 62.1 Total Outside Liabilities 226068 100 217984 100 158722 100 Common Stock 163500 47.1 163500 50.6 163500 56.9 Retained Earnings 183895 52.9 159432 49.4 124078 43.1 Total Stockholders Equity 347395 100 322932 100 287578 100

Related Questions

Navigate

• Browse (All)
• Browse E
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.