Required information [The following information applies to the questions displayed below.] Simon Company's year-end balance sheets follow. At December 31 Current Year 1 Year 2 Years Ago Ago Assets S $ Cash $ 29,901 35,294 36,036 Accounts receivable, net 85,811 59,965 46,182 Merchandise inventory 184,687 80,824 50,685 Prepaid expenses 9,629 9,175 3,887 Plant assets, net 266,824 243,063 216,610 $ $ $ Total assets 496,852 428,321 353,400 Liabilities and Equity Accounts payable $ $ 122,479 Long-term notes payable 71,662 91,540 100,484 47,582 76,539 Common stock, $10 par value Retained earnings 163,500 163,500 163,500 119,333 92,675 65,779 Total liabilities and equity $ S $ 496,852 428,321 353,400 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 Current Year 1 Year Ago $ Sales 645,908 509,702 Cost of goods sold 394,004 331,306 Other operating 200,231 128,955 expenses Interest expense 10,980 11,723. Income tax expense 8,397 7,646 Total costs and 613,612 479,630 expenses Net income $ 32,296 $30,072 $1.99 $ 1.85 Earnings per share 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 Required Required Required Required 1A 1B 2 38 Compute total asset turnover for the current year and one year ago. Total Asset Turnover Numerator: Denominator: Net sales Average total assets Current Year: $ 645,908/ 1 Year Ago: $ 509,702 = Total Asset Turnover Total asset turnover 0 times 0 times Numerator: Net income Current Year: $ 1 Year Ago: $ Return On Total Assets Denominator: Average total assets 32,296/ 30,072/ = Return On Total Assets Return on total assets 0% 0%