! Required information [The following information applies to the questions displayed below.] Simon Company's year-end balance sheets follow. 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. Common stock, $10 par value Retained earnings Total liabilities and equity $ 37,400 50,500 Current Year 1 Year Ago 2 Years Ago $ 31,800 89,400 112,500 10,800 277,000 $ 521,500 $ 36,500 62,500 $ 128,800 96,500 82,600 9,350 254,500 $ 445,450 $ 72,250 101,750 164,000 107,450 164,000 132,200 $ 521,500 $ 445,450 54,500 4,300 231,000 $ 377,700 $ 51,000 82,200 164,000 80,500 $ 377,700 The company's income statements for the Current Year and 1 Year Ago, follow. For Year Ended December 31 Sales Cost of goods sold Interest expense Income tax expense Other operating expenses Total costs and expenses Net income Earnings per share Current Year $ 715,000 $ 450,450 221,650 1 Year Ago $ 590,000 11,600 9,350 693,050 $ 21,950 $ 377,600 135,700 13,100 8,925 $ 1.34 535,325 $ 54,675 $ 3.33 For both the Current Year and 1 Year Ago, compute the following ratios: (3-a) Compute return on total assets for the current year and one year ago. (3-b) Based on return on total assets, did Simon's operating efficiency improve or worsen in the Current Year versus 1 Year Ago? Complete this question by entering your answers in the tabs below. Required 3A Required 3B Compute return on total assets for the current year and one year ago. Current Year: 1 Year Ago: Return On Total Assets Numerator: Denominator: Return On Total Assets = Return on total assets = % % < Required 3A Required 3B >