Required information Exercise 17-10 Efficiency and profitability analysis LO P3 [The following information applies to the questions displayed below.) Simon Company's year-end balance sheets follow, 2017 2016 2015 At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable Long-ter notes payable secured by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity $ 32,200 $ 36,000 $ 38,600 87,500 63,500 50, 500 111,500 80,200 53,500 19,95e 9,300 5,200 279,000 250, 500 229,000 $521,150 $439,500 $ 376,800 $128,800 $ 74,250 $ 50,200 95,500 99,500 82,000 161,500 161,500 161,500 135,350 104,250 83,100 $521,150 $439,500 $376,800 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 Earnings per share 2017 $765,000 5466,650 221,850 11,200 9,640 709 300 $ 55,700 2016 $ 580,000 $371,200 139,200 13,200 8,500 532,200 5 47,00 5 2.96 Evaluate the company's efficiency and profitability by computing the following for 2017 and 2016 Exercise 17.10 Pa 0.9 points 11,400 9,600 3.600 Interest expense Income taxes Total costs and expenses Net income Earnings per share 709,309 $ 55,700 $ 3.45 532,209 $ 47,800 $ 2.96 eBook Evaluate the company's efficiency and profitability by computing the following for 2017 and 2016 100 Hint Exercise 17-10 Part 1 Prim (1) Profit margin ratio Profit Margin Ratio Choose Denominator: Choose Numerator: Profit Margin Ratio Profit margin ratio % 2017 2016 MC GE