Required information [The following information applies to the questions displayed below.) Simon Company's year-end balance sheets follow. At December 31 Current Yr 1 Yr Ago 2 Yrs Ago Assets Cash $ 31,000 $ 36,250 $ 37,200 Accounts receivable, net 88,600 61,000 50,000 Merchandise inventory 111,500 83,200 53,000 Prepaid expenses 10,800 9,500 5,000 Plant assets, net 282,000 258,000 230,000 Total assets $523,900 $447,950 $ 375,200 Liabilities and Equity Accounts payable $128,800 $ 73,500 $ 50,200 Long-term notes payable 96,500 101,250 83,200 Common stock, $10 par value 162,500 162,500 162,500 Retained earnings 136,100 110,700 79,300 Total liabilities and equity $523,900 $447,950 $375,200 The company's income statements for the Current Year and 1 Year Ago, follow, For Year Ended December 31 Current Yr 1 Yr Ago Sales $785,000 $620,000 Cost of goods sold $494,550 $396,800 Other operating expenses 243, 350 148,800 Interest expense 11,200 12,800 Income tax expense 9,500 8,700 Total costs and expenses 758,600 567,100 Net income $ 26,400 $ 52,900 Earnings per share $ 1.62 3.26 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 1A Required 18 Profit margin ratio Choose Numerator: Profit Margin Ratio Choose Denominator: Profit Margin Ratio Profit margin ratio 149.8 % $ Current Year: 1 Year Ago: 785,000/ $ is 523,900 = 447,950 = 96 TA Required 1B > For both the Current Year and 1 Year Ago, compute the following ratios: (2) Total asset turnover. Total Asset Turnover Choose Numerator: Choose Denominator: Current Year: Total Asset Turnover Total asset turnover times times 1 Year Ago: For both the Current Year and 1 Year Ago, compute the following ratios: (2) Total asset turnover. Total Asset Turnover Choose Numerator: Choose Denominator: Current Year: Total Asset Turnover Total asset turnover times times 1 Year Ago