08:58 Simon Company's year-end balance sheets follow. 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 Common stock, $10 par value Retained earnings Total liabilities and equity Interest expense Income tax expense Total costs and expenses Net income Current Year Earnings per share $ 30,600 88,800 110,500 10,600 276,000 516,500 1 Year Ago $ 128,000 $ 72,000 97,000 162,500 129,000 99,000 162,500 108,250 $ 516,500 $ 441,750 Current Year $ 36,500 63,000 83,800 9,450 249,000 $ 441,750 $ 437,100 218,550 11,500 9,550 The company's income statements for the Current Year and 1 Year Ago, follow. For Year Ended December 31 Sales Cost of goods sold Other operating expenses $ 705,000 676,700 $ 28,300 $ 1.74 2 Years Ago $ 38,400 50,000 54,000 4,400 232,000 $ 378,800 For both the Current Year and 1 Year Ago, compute the following ratios: $ 51,400 83,000 162,500 81,900 $ 378,800 1 Year Ago $ 359,100 136,800 13,500 8,975 $ 570,000 518,375 $ 51,625 $ 3.18 (3-a) Compute return on total assets for the current year and one year ago. (3-b) Based on return on total assets, did Simon's operating efficiency improve or worsen in the Current Year versus 1 Year Ago?

Simon Company's year-end balance sheets follow. The company's income statements for the Current Year and 1 Year Ago, follow. For both the Current Year and 1 Year Ago, compute the following ratios: a) Compute return on total assets for the current year and one year ago. b) Based on return on total assets, did Simon's operating efficiency improve or worsen in the Current Year versus 1 Year Ago