7 Required information [The following information applies to the questions displayed below.] Part 1 of 3 Simon Company's year-end balance sheets follow. At December 31 Current Year 1 Year Ago 2 Years Ago 10 Assets points Cash $ 30, 600 $ 35, 500 $ 38, 200 Accounts receivable, net 89 , 100 62,000 50,000 8 80, 800 03:34:20 Merchandise inventory 113,000 52,000 Prepaid expenses 10, 700 9 , 450 5,500 Plant assets, net 276,000 248, 500 225, 000 Total assets $ 519, 400 $ 436, 250 $ 370, 700 Liabilities and Equity Accounts payable $ 128, 800 $ 75, 000 $ 51, 200 eBook Long-term notes payable 95,500 100, 000 80 , 600 Common stock, $10 par value 163,000 163,000 163,000 Retained earnings 132, 100 98, 250 75,900 Print Total liabilities and equity $ 519, 400 $ 436, 250 $ 370, 700 The company's income statements for the Current Year and 1 Year Ago, follow. References For Year Ended December 31 Current Year 1 Year Ago Sales $ 775,000 $ 630,000 Cost of goods sold $ 465,000 $ 403, 200 Other operating expenses 240, 250 151, 200 Interest expense 11,900 13, 400 Income tax expense 9 , 550 8, 650 Total costs and expenses 726, 700 576, 450 Net income $ 48, 300 $ 53, 550 Earnings per share $ 2.96 $ 3.29 For both the Current Year and 1 Year Ago, compute the following ratios:[1a] Compute prot margin ratio for the current year and one year ago. l1-h] Did profit margin improve or worsen in the Current Year versus 1 Year Ago? Complete thls question by entering your answers In the tabs below. Required 1A Required 15 Compute prot margin ratio for the current year and one year ago. _-H leI _IH_I (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? Complete this question by entering your answers in the tabs below. Required 1A Required 1B Did profit margin improve or worsen in the Current Year versus 1 Year Ago? Profit margin