Required information [The following information applies to the questions displayed below) Simon Company's year-end balance sheets follow. Current Yel Yr Ago 2 Yrs Ago As December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant annets, 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 $ 32,200 88,400 110,000 10,250 276,000 5516,850 $ 16,500 $ 37,000 62,500 51,000 20,000 52,500 9,400 5,300 253,000 220,000 $439,200 $373, 800 $229,200 S 71.000 $ 51,000 96,500 263.500 127,650 5515,850 99.750 81,200 163,500 163, 500 101,950 10, 100 439,200 $373.000 The company's income statements for the Current Year and 1 Year Ago follow. For Year Ended December 31 Current TE Sales 5725,000 5550,000 Coat of goods sold $427.750 $346,500 Other operating expenses 232,000 126,500 Intereat expense 11.600 13.100 Income tax expense 9,500 0.775 Total costs and expenses 160,850 434.825 Het income 5 44.150 $ 55, 125 Tamnings per shore $2.70 $ 3.37 For both the Current Year and 1 Year Ago, compute the following ratios (1-6) Profit margin ratio. {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 18 Profit margin ratio Choose amor Choose Deeminator Pro targle Ratio Protmarginatio Current Year 1 Year Ago Rope 185