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 $ 32,200 88,300 112,500 10,650 281,000 $524,650 $ 35,500 $ 38,600 63,000 50,500 81,400 52,500 9,450 5,100 257,000 233,000 $446,350 $ 379,700 $128,400 $ 72,500 $ 50,800 96,500 163,500 136,250 $524,650 99,750 82,800 163,500 163,500 110,600 82,600 $ 446,350 $ 379, 700 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 $ 775,000 $ 457,250 248,000 11,400 9,400 726,050 $ 48,950 $ 2.99 1 Yr Ago $ 590,000 $377,600 141,600 13,300 8,775 541,275 $ 48,725 $ 2.98 (1-a) 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 1B Profit margin ratio. Choose Numerator: Profit Margin Ratio I Choose Denominator: Profit Margin Ratio Profit margin ratio % Current Year: 1 Year Ago: % Require Required 1B 01:04:56 Required 1A Required 1B Did profit margin improve or worsen in the Current Year versu Profit margin