Required information Exercise 13-10 (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. Interest expense Other operating expenses Income tax expense Total costs and expenses Net income Earnings per share Current Year $ 707,824 $ 431,773 219,425 12,033 9,202 672,433 $ 35,391 $ 2.18 1 Year Ago $ 363,065 141,316 12,847 8,378 $558,561 525,606 $ 32,955 $2.03 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. (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 38 < Prev 11 12 of 14 Next > Complete this question by entering your answers in the tabs below. Required 1A Required 18 Required 2 Required 3A Required 38 Compute profit margin ratio for the current year and one year ago. ces Current Year: 1 Year Ago: Numerator: Profit Margin Ratio Denominator.. Profit Margin Ratio Profit margin ratio 26 1% Required 18> Required information (2) Total asset turnover. (3-a) Return on total assets. (3-b) Based on return on total assets, did Simon's operating efficiency improve or worsen in the Current Year versus Complete this question by entering your answers in the tabs below. Required 1A Required 18 Required 2 Required 3A Required 38 Compute total asset turnover for the current year and one year ago. Current Year: 1 Year Ago: Total Asset Turnover Numerator: Denominator: Total Asset Turnover Total asset turnover times times (2) Total asset turnover. (3-a) Return on total assets. (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 38 Compute return on total assets for the current year and one year ago. Current Year: 1 Year Ago: Numerator: Return On TotalAssets Denominator: Return On Total Assets Return on total assets