Exercise 13-10 Analyzing efficiency and profitability LO P3 [The following information applies to the questions displayed below.] Simon Company's year-end balance sheets follow. Current Yr 1 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 86,600 110,500 10,400 276,000 $514,900 $ 36,250 $ 37,600 63,500 49,500 81,600 54,000 9,350 4,000 248,500 227,000 $ 439,200 $ 372,100 $ 128,000 $ 74,250 $ 51,400 97,500 162,000 127,400 $514,900 99, 250 83,800 162,000 162,000 103,700 74,900 $439,200 $ 372, 100 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 Yx $775,000 $ 480,500 248,000 11,300 9,550 749,350 $ 25,650 $ 1.58 1 Yr Ago $ 600,000 $372,000 138,000 13,300 8,775 532,075 $ 67,925 $ 4.19 For both the Current Year and 1 Year Ago, compute the following ratios: Complete this question by entering your answers in the tabs below. Required 3A Required 3B Return on total assets Choose Numerator: Net income $ $ Return On Total Assets 1 Choose Denominator: Average total assets 25,650 67,925 Return On Total Assets Return oefotal assets 0 % Current Year: 1 Year Ago: 0 % Required Required 38 >