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 Ye 1 Yr Ago 2 Yrs Ago At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant annets, 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 $1,000 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. For Year Ended December 31 Current Yr 1 Yr Ago Sales $715,000 $560,000 Cort of goods sold $414,700 $352,800 Other operating expenses 221,650 140,000 Interest expense 11,600 13,100 Income tax expense 9,559 8,550 Total costs and expenses 657, 500 514.450 Net Income $ 57,500 $ 45,550 Earnings per share $ 3.57 S 2.83 For both the Current Year and 1 Year Ago, compute the following ratios: Exercise 13-10 Part 2 (2) Total asset turnover. Total Asset Turnover Choose Denominator Choose Numerator: Total Asset Turnover Total asset turnover times Current Year: 1 Year Ago: times