Required information [The following information applies to the questions displayed below.] Simon Company's year-end balance sheets follow. At December 31 Assets Cash Current Year 1 Year Ago 2 Years Ago $31,600 $ 36,000 $38,200 Accounts receivable, net Merchandise inventory Prepaid expenses 87,600 61,500 50,500 111,500 83,000 52,500 10,400 9,300 4,800 Plant assets, net 281,000 253,500 231,000 Total assets Liabilities and Equity $ 522,100 $ 443,300 $377,000 Accounts payable $ 129,600 $ 72,250 $51,200 Long-term notes payable 96,500 98,250 80,400 Common stock, $10 par value 161,500 161,500 161,500 Retained earnings 134,500 111,300 83,900 Total liabilities and equity $ 522,100 $ 443,300 $377,000 The company's income statements for the Current Year and 1 Year Ago, follow. The company's income statements for the Current Year and 1 Year Ago, follow. For Year Ended December 31 Sales Cost of goods sold Current Year $725,000 1 Year Ago $550,000 $420,500 $346,500 Other operating expenses 224,750 132,000 Interest expense 12,100 12,900 Income tax expense 9,500 9,000 Total costs and expenses Net income Earnings per share For both the Current Year and 1 Year Ago, compute the following ratios: 500,400 $49,600 $3.07 666,850 $ 58,150 $3.60 (1-a) Compute profit margin ratio for the current year and one year ago. (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 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 1 / % % es Required 1A Required 1B Did profit margin improve or worsen in the Current Year versus 1 Year Ago? Profit margin < Required 1A Required 18