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 Prepaid expenses Plant assets, net 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 $ 31,800 89,400 112,500 10,800 277,000 $ 521,500 $ 36,500 62,500 $ 128,800 96,500 164,000 132,200 82,600 9,350 254,500 $ 445,450 $ 72,250 101,750 164,000 107,450 $ 521,500 $ 445,450 $ 37,400 50,500 54,500 4,300 231,000 $ 377,700 $ 51,000 82,200 164,000 80,500 $ 377,700 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 Current Year 1 Year Ago $ 715,000 $ 590,000 $ 450,450 221,650 $ 377,600 135,700 13,100 8,925 11,600 9,350 693,050 $ 21,950 535,325 $ 54,675 $ 3.33 Earnings per share $ 1.34 For both the Current Year and 1 Year Ago, compute the following ratios: (2) Compute total asset turnover for the current year and one year ago. Current Year: 1 Year Ago: Total Asset Turnover Numerator: Denominator: Total Asset Turnover = Total asset turnover = times = times