At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Current Yr 1 Yr Ago 2 Yrs Ago $ 30,400 $ 36,000 $ 38,400 62,000 49,500 86,400 111,000 81,800 52,000 10,950 9,350 4,800 277,000 250,500 225,000 $515,750 $439,658 $369,700 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 $128,800 $ 72,500 $ 50,800 97,000 162,000 100,750 162,000 162,000 127,958 184,400 75,300 $515,750 $439,658 $369,700 81,600 The company's income statements for the Current Year and 1 Year Ago, follow. Sales 1 Yr Ago $359,100 136,800 12,800 8,500 $570,000 For Year Ended December 31 Current Yr $785,000 Cost of goods sold $486,700 Other operating expenses 251,200 Interest expense 11,600 Income tax expense 9,550 Total costs and expenses Net income 759,050 $ 25,950 Earnings per share $ 1.60 $ 3.26 517,200 $ 52,800 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 Ago? Complete this question by entering your answers in the tabs below. Required 3A Required 38 Return on total assets Return On Total Assets Choose Numerator: Net income Choose Denominator: Average total assets Current Year: 1 Year Ago: Return On Total Assets Return on total assets " 0% => 0% < Prev 8 of 8 Next