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 $ 31,800 89,500 112,500 10,700 278,500 $523,000 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 $ 35,625 $ 37,800 62,500 50,200 82,500 54,000 9,375 5,000 255,000 230,500 $445,000 $ 377,500 $129,900 $ 75,250 $ 51,250 98,500 163,500 131, 100 $523,000 101,500 83,500 163,500 163,500 104,250 79.250 $445,000 $377,500 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 Current Y $ 673,500 5411,225 209,550 1 YAO 5.532,000 $ 345,500 134,980 Mout (1-a) Profit margin ratio (1-b) Did profit margin improve or worsen in the Current Year versus 1 Year Ago? Complete this question by entering your answers in the tabs below. Required 1A Required 1B Profit margin ratio. Profit Margin Ratio 1 Choose Denominator: Choose Numerator: 1 Profit Margin Ratio Profit margin ratio % Current Year: 1 1 Year Ago: 1 % ROUTE Required 1B >