! Required information [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 Canh 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 annet Common stock, $10 par value Retained earnings Total liabilities and equity $ 32,200 89,300 111,500 10,250 278.000 $521,250 $ 35,750 $ 38,400 61,500 50,500 82,200 54,000 9,200 4,400 255,000 232.000 $443,650 $ 379,300 $130,000 $ 72,750 $ 50,200 97,000 160,500 133259 $521,250 101,750 80.800 160,500 160,500 108,650 37.800 $443,650 $379,300 The company's income statements for the Current Year and 1 Year Ago, follow. Tor Year Ended December 31 Sales Cost of goods sold Other operating expenses Interest expense Income tax expense Total costs and expenses Net income Earnings per whare Current Yr $735,000 $426,300 235.200 11,400 9,550 682.450 $ 52,550 5 3.27 1 Yr Ago 5570,000 $ 359,100 136,800 12,800 8.700 517,400 5 52.600 $ 3.28 For both the Current Year and 1 Year Ago, compute the following ratios (2) Total asset turnover. Total Asset Turnover Choose Denominator: Choose Numerator: Total Asset Turnover Total asset turnover times Current Year: 1 Year Ago: times MacBook Air