nework Required information The following information applies to the questions displayed below] Simon Company's year-end balance sheets follow. Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets $.30,400 35,750 $. 38,400 5e,580 1ee0 5,860 281,800 25e,500 233,ee0 $519,65e $438,750 380,980 86,488 62,589 111,580 88,880 9,209 54 10,350 Liabilities and Equity Accounts payable Long-term notes payable secured by $128,800 72,25e 51,ee0 mortgages on plant assets Common stock, $10 par value 95,500 99,00 8,8e0 163,000 163,000 163,000 86,100 $519,650 $438,750 $ 388,980 132,350 104,5ee Total liabilities and equity The company's income statements for the years ended December 31, 2017 and 2016, follow For Year Ended December 31 Sales Cost of goods sold Other operating expenses Interest expense Income taxes Total costs and expenses Net income 2017 2016 $755,00e $ 630,000 $453,000 218,950 11,500 9,550 $396,980 144,900 13,100 8,975 693,0005 563,875 S 66,125 $4.e6 S 62,000 Earnings per share S 3.80 Evaluate the company's efficiency and profitability by computing the following for 2017 and 2 (1) Profit margin ratio