Current Yr1 Yr Ago 2 Yrs Ago 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 $ 31, 400 86,600 112,500 10,650 279,000 $520, 150 $ 35,250 $ 38,200 62,000 50,500 81,200 53,500 9,450 4,300 250,000 233,000 S437,900 $ 379,500 $128,000 $ 75,000 $ 50,200 97,000 160,500 134,650 $520, 150 99,750 80, 400 160,500 160,500 102,650 88,400 $437,900 $ 379,500 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 $745,000 $447,000 230,950 11.400 9.350 698, 700 $ 46,300 1 Yr Ago $590,000 $371, 700 141,600 13, 400 8,575 535, 275 $ 54, 725 2.88 $ 3.41 For both the Current Year and 1 Year Ago, compute the following ratios: (1-a) Profit margin ratio. (1-b) Did profit margin improve or worsen in the Current Year versus 1 Year Ago? Required 1A Required 15 Profit margin ratio. Profit Margin Ratio Choose Denominator: Choose Numerator: - Profit Margin Ratio Profit margin ratio Current Year: 1 Year Ago: Required 1B > Required 1A Required 1B Did profit margin improve or worsen in the Current Year versus 1 Year Ago? Profit margin Required 1A