Che Required information Exercise 13-10 Efficiency and profitability analysis LO P3 [The following information applies to the questions displayed below.) Simon Company's year-end balance sheets follow. 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 $ 32,200 $ 35,750 $ 38,000 89, 108 62,500 49,500 113, eee81, eee 53,500 10,550 9,450 4,600 278,000 253,500 229,000 $522,850 $442,200 $ 374,600 $128,800 $ 74,250 $ 51,200 97,000 100,250 81, 2ee 162,eee 162,000 162,020 135,050 105.700 80, 280 $522,850 $442,200 $ 374,600 the company's income statements for the years ended December 31, 2017 and 2016, follow 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 $685,000 $397,300 198,650 11,600 9,55 617,100 $ 67, gee 2016 $ 520, eee $322,488 124,800 13, eee 8,55e 468, 75e $ 51,250 4.19 $ 3.16 Evaluate the company's efficiency and profitability by computing the following for 2017 and 2016 Exercise 13-10 Part 1 (1) Profit margin ratio. Choose Numerator: Net income Profit Margin Ratio Choose Denominator: Net sales Profit Margin Ratio Profit margin ratio 2017 2016 0 % -rcise 13-10 Part 2 Total asset turnover. Total Asset Turnover 1 Choose Denominator: Choose Numerator: Total Asset Turnover Total asset turnover 17 times times (3) Return on total assets. Choose Numerator: Return On Total Assets Choose Denominator: - Return On Total Assets Return on total assets 2017 2016