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 Current Year 1 Year Ago 2 Years Ago $ 30,600 87,500 $ 35,250 62,000 $ 38,200 50,000 54,500 110,500 11,000 280,000 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 82,400 9,300 252,000 $519,600 $ 440,950 $128,800 96,000 160,500 $ 73,250 99,000 134,300 $ 519,600 160,500 108,200 $440,950 5,300 233,000 $ 381,000 $ 50,800 80,400. 160,500 09,300 $ 381,000 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 incone Earnings per share Current Year $775,000 $ 449,500 240,250 12,100 9,550 1 Year Ago $ 550,000 711,400 $ 63,600 $ 357,500 132,000 13,000 8,725 511,225 $ 38,775 $2.42 $ 3.96 For both the Current Year and 1 Year Ago, compute the following ratios: (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 18 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 Required 1A Required 1B >