11 ces Accounts receivable, net LINE FOR Wing mumour applies to the quests payer ucio.j Simon Company's year-end balance sheets follow. At December 31 Assets Cash Current Year 1 Year Ago 2 Years Ago $ 30,800 $ 36,500 63,000 83,200 89,600 112,000 10,950 280,000 $ 523,350 $ 129,200 96,000 161,500 9,450 259,000 $ 451,150 $ 72,250 101,000 161,500 116,400 $ 37,000 49,000 53,500 4,400 234,000 $ 377,900 $ 50,800 81,800 161,500. 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 136,650 $ 523,350 $ 451,150 83,800 $ 377,900 The company's income statements for the Current Year and 1 Year Ago, follow. For Year Ended December 31 Sales Cost of goods sold Interest expense Other operating expenses Income tax expense Total costs and expenses Net income Earnings per share 1 Year Ago Current Year $775,000 $ 449,500 240,250 $ 390,600 148,800 13,000 8,700 710,400 $ 64,600 11,300 9,358 $4.00 For both the Current Year and 1 Year Ago, compute the following ratios: $ 620,000 561,100 $ 58,900 $ 3.65 (1-a) Compute profit margin ratio for the current year and one year ago. (1-b) Did profit margin improve or worsen in the Current Year versus 1 Year Ago?