2017 2016 2015 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 $ 31,400 $ 36,200 $ 38,600 88,800 61,500 49, eee 112,500 80, 4ee 54,500 10,350 9,450 5,100 278, eee 251, 500 228, eee $521, ese $438,850 $ 375, 280 $130, eee $ 72, 750 $ 51,689 95,000 181,250 81,400 162,50 162,500 162,580 133,55 102,350 79,780 $521,050 $438,850 $ 375,200 The company's income statements for the years ended December 31, 2017 and 2016, follow. For Year Ended December 31 Sales Cost of goods sold Other operating expenses Interest expense Income taxes Total costs and expenses Net income Earnings per share 2017 $745, een $439,550 216,95 11,6ee 9,5ee 676,700 $ 68,380 $ 4.29 2016 $ 520, eee $322,400 124, see 12,700 8,575 468, 475 $ 51,525 $ 3.17 Evaluate the company's efficiency and profitability by computing the following for 2017 and 2016 Exercise 17-10 Part 1 (1) Profit margin ratio. Choose Numerator Profit Margin Batig Choose Denominator Profit Martie Profit margin ratio 2017 1 2016 1