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 $ 30,800 87,800 112,500 10,300 277,000 $518,400 $ 36,500 $ 37,600 61,500 49,500 80,400 54,500 9,200 4,600 257,000 226,000 $444,600 $ 372,200 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 secured by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity $ 128,800 $ 75,000 $ 50,400 95,000 162,500 132,100 $518,400 99,750 81,000 162,500 162,500 107,350 78,300 $444,600 $ 372,200 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 Yr $ 755,000 $460,550 234,050 12,100 9,550 716,250 $ 38,750 1 Yr Ago $ 620,000 $396,800 148,800 13,400 8,525 567,525 $ 52,475 $ 3.23 $ 2.38 Earnings per share For both the Current Year and 1 Year Ago, compute the following ratios: Income tax expense Total costs and expenses 9,550 8,525 716,250 $ 38,750 567.525 $ 52,475 Net income Earnings per share $ 2.38 $ 3.23 For both the current Year and 1 Year Ago, compute the following ratios: (3-a) Return on total assets. (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 Return on total assets Return On Total Assets Return On Total Assets Choose Numerator: Net sales Choose Denominator: Average total assets Return on total assets 0 % = 1 Current Year: 0 % / 1 Year Ago: Reglarea Required 30 > Total costs and expenses 716,250 $ 38,750 567,525 $ 52,475 Net income 2.38 $ 3.23 Earnings per share For both the Current Year and 1 Year Ago, compute the following ratios: (3-a) Return on total assets. (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 Based on return on total assets, did Simon's operating efficiency improve or worsen in the Current Year versus 1 Year Ago? Return on total assets