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Required information 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 $ 31,800 86,700 112,500 10,550 279,000 $520,550 $ 35,500 $ 37,800 64,000 50,000 83,800 53,000 9,350 4,200 255,500 229,000 $448,150 $ 374,000 $129,200 $ 74,250 $ 51,600 97,000 161,500 132,850 $520, 550 100, 250 80,000 161,500 161,500 112,150 80,900 $448,150 $ 374,000 The company's income statements for the Current Year and 1 Year Ago, follow. Retained earnings Total liabilities and equity 132,850 $520,550 112,150 80,989 $448,150 $ 374,000 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 $ 765,000 $474,300 237,150 11,600 9,450 732,500 $ 32,500 $ 2.01 1 Yr Ago $570,000 $364,800 131, 100 12,600 9,000 517,500 $ 52,500 $ 3.25 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? Complete this question by entering your answers in the tabs below. Required 1A Required 1B Profit margin ratio. Profit Margin Ratio | Choose Denominator: Choose Numerator: Profit Margin Ratio Profit margin ratio % Current Year: % 1 Year Ago: Required 1B > Required information (1-a) Profit margin ratio. (1-1) Did profit margin improve or worsen in the Current Year versus 1 Year Ago? f3 Complete this question by entering your answers in the tabs below. Required 1A Required 1B ook Did profit margin improve or worsen in the Current Year versus 1 Year Ago? int Profit margin rences Required information (3-b) Based on return on total assets, did Simon's operating efficiency improve or worsen in the Current Year versus 1 Complete this question by entering your answers in the tabs below. Required 3A Required 3B Based on return on total assets, did Simon's operating efficiency improve or worsen in the Current Year versus 1 Year Ago? Return on total assets