15 Simon Company's year-end balance sheets follow. Current Yr Part 3 of 3 $ 30,200 89,300 112,500 11,000 281,000 $524,000 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 mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity 1 Yr Ago 2 Yrs Ago $ 35,000 $ 38,000 62,000 50,500 82,800 54,500 9,200 4,300 259,000 226,000 $448,000 $ 373,300 2 points $129,600 $ 74,250 $ 50,200 96,000 100, 250 81,000 161,000 161,000 161,000 137, 400 112,500 81,100 $524,000 $448,000 $373,300 == 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 Interest expense Income tax expense Total costs and expenses Net income Earnings per share Current Yr $735,000 $ 463,050 235,200 11,900 9,400 719,550 $ 15,450 1 Yr Ago $620,000 $384,400 148, 800 13,000 8,775 554,975 $ 65,025 $ 0.96 $ 4.04 For both the Current Year and 1 Year Ago, compute the following ratios: (3-a) Return on total assets. (3-6) Based on return on total assets, did Simon's operating efficiency improve or worsen in the Current Year versus 1 Year Ago? X Answer is not complete. Complete this question by entering your answers in the tabs below. Required 3A Required 3B Return on total assets Return On Total Assets Choose Numerator: 1 Choose Denominator: Return On Total Assets = Return on total assets 0 = Current Year: 1 Year Ago: 0 % Required information (The following information applies to the questions displayed below.) Selected comparative financial statements of Korbin Company follow. KORBIN COMPANY Comparative Income Statements For Years Ended December 31, 2019, 2018, and 2017 2019 2018 2017 Sales $561, 102 $429,850 $298,300 Cost of goods sold 337,783 272,095 190,912 Gross profit 223,319 157,755 107,388 Selling expenses 79,676 59,319 39,376 Administrative expenses 50,499 37,827 24,759 Total expenses 130, 175 97,146 64,135 Income before taxes 93,144 60, 609 43, 253 Income tax expense 17,325 12,425 8,780 Net income $ 75,819 $ 48,184 $ 34,473 KORBIN COMPANY Comparative Balance Sheets December 31, 2019, 2018, and 2017 2019 2018 2017 Assets Current assets $ 54,527 $ 36,495 $ 48,785 Long-term investments 0 900 4,800 Plant assets, net 99,721 90,738 52,573 Total assets $154,248 $128,133 $106,158 Liabilities and Equity Current liabilities $ 22,520 $ 19,092 $ 18,578 Common stock 67,000 67,000 49,000 Other paid-in capital 8,375 8,375 Retained earnings 56, 353 33, 666 33, 136 Total liabilities and equity $154,249 $128,133 $106,158 Required: 1. Complete the below table to calculate each year's current ratio. Choose Numerator: Current Ratio Choose Denominator: 2019 2018 2017 1 1 1 / """ Current ratio Current ratio Oto 1 Oto 1 Oto 1 (The following information applies to the questions displayed below.) Selected comparative financial statements of Korbin Company follow. KORBIN COMPANY Comparative Income Statements For Years Ended December 31, 2019, 2018, and 2017 2019 2018 2017 Sales $561,102 $429,850 $298,300 Cost of goods sold 337,783 272,095 190,912 Gross profit 223,319 157,755 107,388 Selling expenses 79,676 59,319 39,376 Administrative expenses 50,499 37,822 24,259 Total expenses 130, 175 97,146 64,135 Income before taxes 93,144 60, 609 43, 253 Income tax expense 17,325 12,425 8,780 Net income $ 75,819 48,184 $ 34,473 KORBIN COMPANY Comparative Balance Sheets December 31, 2019, 2018, and 2017 2019 2018 2017 Assets Current assets $ 54,527 $ 36,495 $ 48,785 Long-term investments 0 900 4,800 Plant assets, net 99,721 90,738 52,573 Total assets $154,248 $128,133 $106,158 Liabilities and Equity Current liabilities $ 22,520 $ 19,092 $ 18,578 Common stock 67,000 67,000 49,000 Other paid-in capital 8,375 8,375 5,444 Retained earnings 56, 353 33,666 33,136 Total liabilities and equity $154,248 $128,133 $106,158 2. Complete the below table to calculate income statement data in common-size percents. (Round your percentage answers to 2 decimal places.) 2017 KORBIN COMPANY Common-Size Comparative Income Statements For Years Ended December 31, 2019, 2018, and 2017 2019 2018 Sales % % Cost of goods sold Gross profit Selling expenses Administrative expenses Total expenses Income before taxes Income tax expense Net income % %. % Line following information applies to the questions orsplayed below. Selected comparative financial statements of Korbin Company follow. KORBIN COMPANY Comparative Income Statements For Years Ended December 31, 2019, 2018, and 2017 2019 2018 2017 Sales $561, 102 $ 429,850 $298,300 Cost of goods sold 337, 783 272,095 190,912 Gross profit 223,319 157, 755 107,388 Selling expenses 79,676 59,319 39,376 Administrative expenses 50, 499 37,822 24,759 Total expenses 130, 175 97,146 64,135 Income before taxes 93,144 60,609 43, 253 Income tax expense 17,325 12, 425 8.780 Net income $ 75,819 $ 48,184 $ 34,473 KORBIN COMPANY Comparative Balance Sheets December 31, 2019, 2018, and 2017 2019 2018 2017 Assets Current assets $ 54,527 $ 36,495 $ 48, 785 Long-term investments 0 900 4,800 Plant assets, net 99,721 90,738 52,573 Total assets $154,248 $128,133 $106,158 Liabilities and Equity Current liabilities $ 22,520 $ 19,092 $ 18,578 Common stock 67,000 67,000 49,000 Other paid-in capital 8,375 8,375 Retained earnings 56, 353 33, 666 33, 136 Total liabilities and equity $154,248 $128,133 $106,158 3. Complete the below table to calculate the balance sheet data in trend percents with 2017 as base year. (Round your percentage answers to 2 decimal places.) KORBIN COMPANY Balance Sheet Data in Trend Percents December 31, 2019, 2018 and 2017 2019 2018 2017 % % 100.00% 100.00 100.00 100.00 % % % Assets Current assets Long-term investments Plant assets, net Total assets Liabilities and Equity Current liabilities Common stock Other paid-in capital Retained earnings Total liabilities and equity %. % 100.00 % 100.00 100.00 100.00 100.00 % % %