7 Simon Company's year-end balance sheets follow. Current Ye 1 Yr Ago 2 Yes Ago At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, bet 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 $ 32,400 88,100 111,500 10,500 278,000 $520,500 $ 35,250 $ 37,800 64,000 49,000 80,600 53,500 9,450 4,100 254,500 228,000 $443,800 $ 372,400 $ 128,400 $ 75,000 $ 50,400 96,000 163,500 132,600 $520, 500 99,000 82,600 163,500 163,500 106,300 75,900 $443,800 $ 372,400 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 $755,000 $445,450 241,600 11,100 9,550 707, 700 $ 47,300 $ 2.89 1 Yr Ago $ 640,000 $ 409,600 153,600 13,000 9,000 585,200 $ 54,800 $ 3.35 For both the Current Year and 1 Year Ago, compute the following ratios 4 Net income Earnings per share $ 47,300 2.89 $ 54,800 $ 3.35 of 3 For both the Current Year and 1 Year Ago, compute the following ratios: (3-a) Return on total assets. (3-b) Based on return on total assets, did Simon's operating efficiency improve or worsen in the Current Year versus 1 Year Ag 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: Choose Denominator: Return On Total Assets Return on total assets Current Year: 1 Year Ago: % ITI % Required 3B