Exercise 17-10 (Algo) Analyzing efficiency and profitability LO P3 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 Year 1 Year Ago $ 581,794 $ 354,894 180,356 9,890 7,563 $ 298,420 116,154 10,559 6,887 552,703 $ 29,091 $ 1.79 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? (2) Total asset turnover. (3-a) Return on total assets. $ 459,108 432,020 $ 27,088 $ 1.67 (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 1A Required 18 Required 2 Required 3A Required 3B Compute profit margin ratio for the current year and one year ago. Current Year: 1 Year Ago: Numerator: Profit Margin Ratio Denominator: = Profit Margin Ratio = = Profit margin ratio % 0%