Required information (The following information applies to the questions displayed below) Simon Company's year-end balance sheets follow At December 311 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 86,400 Current Ye 1 Yr Ago 2 Yrs Ago $35,750 $ 37,400 61,500 50,000 84,000 55,000 10,300 9,450 4,800 279,000 110,500 $518,400 256,500 225,000 $447,200 $372,200 $129,600 $ 73,500 $ 51,200 95,500 99,000 80,600 162,500 162,500 162,500 130,800 112,200 77,908 $518,400 $447,200 $372,200 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 153,600 13,000 Current Yr 1 Yr Ago $785,000 $640,000 $463, 150 $403,200 243,350 11,600 9,400 8,700 Total costs and 727,500 578,500 expenses Net income $ 57,500 $ 61,500 Earnings per $ 3.54 $ 3.78 Income tax expense 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? Complete this question by entering your answers in the tabs below. Required Required 1A 1B Profit margin ratio. Profit Margin Ratio Choose Numerator: Choose Denominator. Profit Margin Ratio Net income Net sales Profit margin ratio Current 0% Year: 1 Year Ago: 0%