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 $ 30,200 86,900 110,500 10,450 276,000 $514,050 $ 35,750 $ 37,800 63,500 51,000 83,400 53,500 9,450 4,800 253.500 228,000 $445,600 $375, 100 $128,800 $ 72,000 $50.800 96,500 161,000 127,750 $514,050 101,250 82,400 161,000 161,000 111,350 80,900 $445,600 $ 375, 100 The company's income statements for the Current Year and 1 Year Ago, follow. Por 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 $715,000 $410,700 221,650 11,600 9.550 657,500 $ 57,500 $3.57 1 Yr Ago $ 560,000 $352,800 140,000 13,100 3.550 514,450 $ 45,550 Warnings por whare For both the Current Year and 1 Year Ago, compute the following ratios For both the Current Year and 1 Year Ago, compute the following ratios: Exercise 13-10 Part 1 (1-a) Profit margin ratio. (9-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 18 Profit margin ratio. Profit Margin Ratio Choose Denominator: Choose Numerator: Profit Margin Ratio Profit margin ratio % Current Year: 1 Year Ago: 96 Required 18 > Total costs and expenses Net income Earnings per share 514, 450 $ 45,550 657,500 $ 57,500 $ 3.57 $ 2.83 B For both the Current Year and 1 Year Ago, compute the following ratios: of 3 Exercise 13-10 Part 1 (1-a) Profit margin ratio. (9-b) Did profit margin improve or worsen in the Current Year versus 1 Year Ago? Print Complete this question by entering your answers in the tabs below. 0 rences Required 1A Required 18 Did profit margin improve or worsen in the current Year versus 1 Year Ago? Profit margin Required 1A