Required information (The following information applies to the questions displayed below) Simon Company's year-end balance sheets follow. AL December 31 current et 1 x Ago 2 Yes Age Asseta Caah $ 32,200 36,500 $37.000 Accounts receivable. net 80,400 61,500 51,000 Merchandise inventory 110,000 80,000 52,500 Prepaid expenses 10,250 9, 100 5,300 Plant assets, net 276,000 251,000 228.000 Total assets $516,050 $499,200 $373, 800 Liabilities and Equity Accounts payable $129,200 74,000 5 $1,000 Long-term notes payable aecured by mortgages on plant assets 96,500 99,750 81,200 Common stock, $10 par value 163,500 163, 500 163,500 Retained earnings 127, 650 101,950 70, 100 Total liabilities and equity 5516, 650 $435,200 $373,800 The company's income statements for the Current Year and 1 Year Ago follow. For Year Ended December 31 Current YE 1 Yr Ago Sales 5725,000 $550.000 Cont of goods sold $427,50 $346,500 Other operating expenses 232,000 126,50D Interest expense 11,600 13, 100 Income tax expense 9,500 3.775 Total costs and expenses 680, 050 494,875 Net income $ 49, 150 S55, 125 Earnings per share 2.70 $ 3.37 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 versi Complete this question by entering your answers in the tabs below. Required 3A Required 38 Return on total assets Return On Total Assets Choose Numerator Choose Denominator Return On Total Assets Return on total assets Current Year 1 Year Ago: Required 38 >