Simon Companys yearend balance sheets follow 2017 2016 At De

Simon Company\'s year-end balance sheets follow 2017 2016 At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable Long-term notes payable secured by $ 26,008 31,322 $ 31,978 40,981 44,977 3,484 192,180 $ 445,261 $ 383,846 $ 313,600 53,201 73,142 7,980 242,079218,201 73,855 94,774 8,545 $ 109,761 65,519 40,567 82,872 mortgages on plant assets Common stock, $10 par value Retained earnings 71,385 163,500 38,148 $ 445,261 $ 383,846 $ 313,600 86,519 163,500 163,500 68,308 89,128 Total liabilities and equity Express the balance sheets in common-size percents. (Do not round intermediate calculations and round your final percentage answers to 1 decimal place.)

Solution

To get the percentage divide each asset or liability with the amount of total assets of that year and multiply by 100. For example:

Cash=(26008/445261)×100=5.84%

Common size balance sheet:

	2017	%	2016	%	2015	%
Cash	26008	5.84%	31322	8.16%	31978	10.20%
Account receivable:net	73855	16.59%	53201	13.86%	40981	13.07%
Merchandise Inventory	94774	21.29%	73142	19.06%	44977	14.34%
Prepaid expense	8545	1.92%	7980	2.08%	3484	1.11%
Plant assets, net	242079	54.37%	218201	56.85%	192180	61.28%
Total assets	445261	100.00%	383846	100.00%	313600	100.00%
Account payable	109761	24.65%	65519	17.07%	40567	12.94%
Long-term notes payable secured by mortgages on plant assets	82872	18.61%	86519	22.54%	71385	22.76%
Common stock,$10 par	163500	36.72%	163500	42.60%	163500	52.14%
Retained Earnings	89128	20.02%	68308	17.80%	38148	12.16%
Total liabilities and equity	445261	100.00%	383846	100.00%	313600	100.00%