Check my work 7 Required information [The following information applies to the questions displayed below.) 14.32 points Simon Company's year-end balance sheets follow. eBook 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 Current Yr 1 Yr Ago 2 Yrs Ago $ 30,400 $ 36,000 $ 38,400 89, 300 63,000 50,500 111,000 82,200 54,500 10,250 9, 350 5,200 280,000 248,000 227,000 $520,950 $438,550 $375,600 of Hint $128,800 $ 74,500 $ 50, 600 Print 97,500 98,000 82,000 163,500 163,500 163,500 131, 150 102,550 79,500 $520,950 $438,550 $375,600 References The company's income statements for the Current Year and 1 Year Ago, follow. For Year Ended December 31 1 Yr Ago Sales $ 580,000 Cost of goods sold Other operating expenses Interest expense Income tax expense Total costs and expenses Net income Earnings per share Current Yr $775,000 $449,500 240, 250 12,300 9,400 711,450 $ 63,550 $ 3.89 $371,200 133,400 12,800 8,650 526,050 $ 53,950 $ 3.30 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 3B Return on total assets Return On Total Assets Choose Numerator: 1 Choose Denominator: = Return On Total Assets = Return on total assets % 1 Current Year: 1 Year Ago: (Required 3A Required 3B