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 $ 31,000 90,000 111,500 10,250 279,000 $521,750 $ 36,250 $ 38,400 62,000 49,000 80,000 53,500 9,400 4,700 253,500 225,000 $441,150 $ 370, 600 $128, 800 $ 75,250 $ 50,000 98,000 162,500 132,450 $521,750 101,250 82,200 162,500 162,500 102,150 75,900 $441,150 $ 370,600 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 Current Yr $765,000 $ 459,000 237,150 11,900 9,600 717,650 $ 47,350 1 Yr Ago $ 560,000 $352,800 128,800 12,600 8, 925 503, 125 $ 56,875 Earnings per share $ 2.91 $ 3.50 Exercise 13-10 Part 1 (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 Numerator: 1 Choose Denominator: Profit Margin Ratio Profit margin ratio / Current Year: 1 % 1 Year Ago: 1 = % (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 Did profit margin improve or worsen in the Current Year versus 1 Year Ago? Profit margin