Required Information [The following Information applies to the questions displayed below.] Simon Company's year-end balance sheets follow. At December 31 Assets Current Year 1 Year Ago 2 Years Ago Cash $ 31,800 $ 35,625 $ 37,800 Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity 89,500 112,500 10,700 278,500 $ 523,000 98,500 163,500 131,100 62,500 82,500 9,375 255,000 $ 445,000 163,500 Accounts payable $ 129,900 Long-term notes payable $ 75,250 101,500 Common stock, $10 par value Retained earnings Total liabilities and equity 104,750 $ 523,000 $ 445,000 For both the current year and one year ago, compute the following ratios: 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 Year $ 673,500 $ 411,225 209,550 12,100 9,525 50,200 54,000 5,000 230,500 $ 377,500 $ 51,250 83,500 163,500 79,250 $ 377,500 1 Year Ago $ 532,000 642,400 $ 31,100 $ 345,500 134,980 13,300 8,845 502,625 $ 29,375 $ 1.90 $ 1.80 Required information Income tax expense 9,525 Total costs and expenses Net income Earnings per share 642,400 $ 31,100 $ 1.90 8,845 502,625 $ 29,375 $1.80 For both the Current Year and 1 Year Ago, compute the following ratios: (1-a) Profit margin ratio. (1-b) Did profit margin Improve or worsen in the Current Year versus 1 Year Ago? (2) Total asset turnover. (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 1A Required 18 Required 2 Required 3A Required 38 Compute profit margin ratio for the current year and one year ago. Current Year 1 Year Ago: Numerator: Profit Margin Ratio Denominator: Profit Margin Ratio Profit margin ratio % %