! Required information [The following information applies to the questions displayed below.] Simon Company's year-end balance sheets follow. At December 31 Assets Current Year 1 Year Ago 2 Years Ago Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable $ 31,800 89,400 112,500 10,800 277,000 $ 521,500 96,500 $ 128,800 Long-term notes payable Common stock, $10 par value Total liabilities and equity Retained earnings $ 36,500 62,500 82,600 9,350 254,500 $ 445,450 $ 72,250 101,750 164,000 107,450 164,000 132,200 $ 521,500 $ 445,450 $ 37,400 50,500 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 Other operating expenses Interest expense Income tax expense Total costs and expenses Net income Current Year 1 Year Ago $ 715,000 $ 590,000 $ 450,450 221,650 $ 377,600 135,700 13,100 8,925 11,600 9,350 693,050 $ 21,950 535,325 $ 54,675 $ 3.33 Earnings per share $ 1.34 For both the Current Year and 1 Year Ago, compute the following ratios: (1-a) Compute profit margin ratio for the current year and one year ago. (1-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 1B Required 1A Compute prom margm ratio for the current year and one year ago. Current Year: 1 Year Ago: Numerator: Profit Margin Ratio Denominator: = Profit Margin Ratio = Profit margin ratio = 0% = 0% Required 1A Required 1B >