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d , Exercise 17-10 (Algo) Analyzing efficiency and profitability LO P3 (Alternate Version) [The following information applies to the questions displayed below) Simon Company's year-end balance sheets follow. At December 31 Current Year 1 Year Ago 2 Years Ago Assets Cash $ 30,600 $ 35,500 $ 37,600 Accounts receivable, net 86,000 62,000 49,500 Merchandise inventory 112,000 81,800 52,500 Prepaid expenses 10,900 9,400 4,700 Plant assets, not 277,000 252,500 233,000 Total assets $ 516,500 $441,200 $ 377.300 Liabilities and Equity Accounts payable $ 128,800 $ 72,000 $ 51,200 Long-term notes payable 97,000 101.750 80,600 Common stock, $10 par value 160,500 160,500 160,500 Retained earnings 130,200 106,950 85,000 Total liabilities and equity $ 516,500 5 441,200 $ 377,300 The company's income statements for the Current Year and 1 Year Ago, follow. Yor Year Ended December 31 Current Year 1 Year ago Sales 5 775,000 $ 550,000 Cont of goods sold $ 472.750 5346,500 Other operating expenses 240,000 126,500 Interest expense 11.900 13,300 Income tax expense 9,550 3.825 Total costs and expenses 742,200 495, 125 Net Income $ 32,800 $ 54,875 Earnings per share 5 2.04 $ 3.42 For both the Current Year and 1 Year Ago, compute the following ratios: Exercise 17-10 (Algo) Part 1 (Alternate Version) (1-a) Compute profit margin ratio for the current year and one year ago (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 Compute profit margin ratio for the current year and one year ago. Profit Margin Ratio Numerator: Denominator: Profit Margin Ratio Profit margin ratio Current Year: 1 Year Ago: 1 9 RADA Required 18 > (1-a) Compute profit margin ratio for the current year and one year ago. (1-b) Did profit margin improve or worsen in the Current Year versus 1 Year Ago? 1 Complete this question by entering your answers in the tabs below. Required 1A Required 18 Did profit margin improve or worsen in the Current Year versus 1 Year Ago? Profit margin