Required information

[The following information applies to the questions displayed below.] Simon Companys year-end balance sheets follow.

At December 31	2017			2016			2015
Assets
Cash	$	31,800		$	35,625		$	37,800
Accounts receivable, net		89,500			62,500			50,200
Merchandise inventory		112,500			82,500			54,000
Prepaid expenses		10,700			9,375			5,000
Plant assets, net		278,500			255,000			230,500
Total assets	$	523,000		$	445,000		$	377,500
Liabilities and Equity
Accounts payable	$	129,900		$	75,250		$	51,250
Long-term notes payable secured by mortgages on plant assets		98,500			101,500			83,500
Common stock, $10 par value		163,500			163,500			163,500
Retained earnings		131,100			104,750			79,250
Total liabilities and equity	$	523,000		$	445,000		$	377,500

The company's income statements for the years ended December 31, 2017 and 2016, follow. For Year Ended December 31 Sales Cost of goods sold Other operating expenses Interest expense Income taxes Total costs and expenses Net income 2017 $673,500 $411, 225 209,550 12,100 9,525 642,400 $ 31,100 $ 1.90 2016 $ 532,000 $345,500 134,980 13,300 8,845 502,625 $ 29,375 $ 1.80 Earnings per share Evaluate the company's efficiency and profitability by computing the following for 2017 and 2016. (2) Total asset turnover. Choose Numerator: Net sales 2017 | $ 2016 $ Total Asset Turnover I Choose Denominator: 11 Average total assets 637,500 $ 532,000 1 $ Total Asset Turnover Total asset turnover 1.3 times 1.3 times = = = 484,000 411,250