Required information [The following information applies to the questions displayed below.] Simon Company's year-end balance sheets follow. $ 35,250 63,500 82,400 9,250 255,500 $ 37,200 51,000 52,000 4,300 227,000 At December 31 Assets Current Year 1 Year Ago 2 Years Ago Cash $ 31,000 Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable 88,700 113,000 10,500 279,000 $ 522,200 $ 445,900 $ 129,600 Long-term notes payable Common stock, $10 par value 162,000 133,600 $ 72,000 100,000 162,000 111,900 Total liabilities and equity $ 522,200 $ 445,900 Retained earnings 97,000 $ 371,500 $ 51,400 83,600 162,000 74,500 $ 371,500 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 Current Year $ 725,000 $ 442,250 224,750 12,300 9,550 1 Year Ago $ 600,000 Total costs and expenses Net income Earnings per share 688,850 $ 36,150 $ 2.23 $ 384,000 138,000 12,600 8,575 For both the Current Year and 1 Year Ago, compute the following ratios: 543,175 $ 56,825 $ 3.51 (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? (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 Compute profit margin ratio for the current year and one year ago. Current Year: 1 Year Ago: Required 1A Required 1B Numerator: Profit Margin Ratio Denominator: 1 1 Did profit margin improve or worsen in the Current Year versus 1 Year Ago? Profit margin || Profit Margin Ratio Profit margin ratio % %