Required information [The following information applies to the questions displayed below.] Simon Company's year-end balance sheets follow. Current Year 1 Year Ago 2 Years Ago 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 $ 30,400 89,900 110,500 10,400 280,000 $ 521,200 $ 35,500 63,000 82,000 9,400 255,000 $ 444,900 $ 38,000 50,500 53,000 4,800 232,000 $ 378,300 $ 128,800 96,500 160,500 135,400 $ 521,200 $ 74,500 98,500 160,500 111,400 $ 444,900 $ 50,400 81,000 160,500 86,400 $ 378,300 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 $ 785,000 $ 486,700 243,350 11,400 9,400 750,850 $ 34,150 1 Year Ago $ 580,000 $ 371,200 139,200 12,900 8,900 532,200 $ 47,800 Earnings per share $ 2.13 $ 2.98 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. Total Asset Turnover Numerator: Denominator: II = Total Asset Turnover Total asset turnover 11 = Current Year: / II times 1 Year Ago: / = II times