Required information [The following information applies to the questions displayed below.] Simon Company's year-end balance sheets follow. At December 31 Assets Cash Accounts receivable, net Merchandise inventory Plant assets, net Prepaid expenses Total assets Liabilities and Equity Accounts payable Long-term notes payable Common stock, $10 par value Retained earnings Total liabilities and equity Current Year 1 Year Ago 2 Years Ago $31,600 $36,000 $38,200 87,600 61,500 50,500 111,500 83,000 52,500 10,400 9,300 4,800 281,000 253,500 231,000 $522,100 $443,300 $377,000 $129,600 $72,250 $51,200 96,500 98,250 80,400 161,500 161,500 161,500 134,500 111,300 83,900 $ 522,100 $ 443,300 $377,000 The company's income statements for the Current Year and 1 Year Ago, follow. $420,500 The company's income statements for the Current Year and 1 Year Ago, follow. For Year Ended December 31 Sales Cost of goods sold 1 Year Ago $550,000 Current Year $725,000 $346,500 Other operating expenses 224,750 Interest expense 12,100 132,000 12,900 Income tax expense 9,500 9,000 Total costs and expenses 666,850 Net income $58,150 500,400 $ 49,600 Earnings per share $3.60 $3.07 For both the Current Year and 1 Year Ago, compute the following ratios: (3-a) Compute return on total assets for the current year and one year ago. (3-b) Based on return on total assets, did Simon's operating efficiency improve or worsen in the Current Year versus 1 Year Ago? (3-a) Compute return on total assets for the current year and one year ago.. (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 3A Required 3B Compute return on total assets for the current year and one year ago. Current Year: 1 Year Ago: Return On Total Assets Numerator: Denominator: Return On Total Assets = Retum on total assets % = % Required A Required 3B > Complete this question by entering your answers in the tabs below. Required 3A Required 3B Based on return on total assets, did Simon's operating efficiency improve or worsen in the Current Year versus 1 Year Ago? Return on total assets < Required 3A Required 38