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 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 $ 31,400 87,400 111,000 10,900 280,000 $520,700 $ 36,250 $ 37,400 61,500 49,000 80,800 53,500 9,300 248,500 228,000 $436,350 $ 372,100 4,200 $ 128,400 $ 72,500 $ 50,000 97,000 160,000 135,300 $520,700 99,500 81,400 160,000 160,000 104,350 80,700 $ 436,350 $ 372,100 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 Earnings per share Current Yr $ 755,000 $ 468,100 234,050 12,200 9,350 723,700 $ 31,300 1 Yr Ago $ 590,000 $377,600 135,700 13,300 8,825 535,425 $ 54,575 $ 3.41 1.96 For both the Current Year and 1 Year Ago, compute the following ratios: Profit margin ratio. Choose Numerator: Il Profit Margin Ratio I Choose Denominator: 1 1 Profit Margin Ratio Profit margin ratio % Current Year: 1 Year Ago: 1 Did profit margin improve or worsen in the Current Year versus 1 Year Ago? Profit margin (2) Total asset turnover. Total Asset Turnover 1 Choose Denominator: Choose Numerator: = Total Asset Turnover Total asset turnover times Current Year: 1 Year Ago: times Return on total assets Return On Total Assets Choose Numerator: 1 Choose Denominator: 1 Return On Total Assets Return on total assets / Current Year: 1 Year Ago: % 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