Required information (The following information applies to the questions displayed below.) Simon Company's year-end balance sheets follow. Current Yr 1 Yr Ago 2 Yrs 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 secured by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity $ 32,000 89,900 111,500 10,200 278,000 $521,600 $ 35,000 $ 37,000 62,000 49,500 80,800 54,500 9,450 5,400 256,000 226,000 $443,250 $372,400 $128,800 $ 75,250 $ 51,200 97,000 101,250 81,200 162,000 162,000 162,000 133,800 104,750 78,000 $521,600 $443,250 $372,400 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 Earnings per share Current Yr $705,000 $415,950 218,550 11,300 9,450 655, 250 $ 49,750 $ 3.07 1 Yr Ago $600,000 $372,000 138,000 13,100 9,000 532,100 $ 67,900 $ 4.19 For both the Current Year and 1 Year Ago, compute the following ratios: (3-0) Return on total assets. (3-b) Based on return on total assets, did Simon's operating efficiency improve or worsen in the Current Year versus 1 Year Ago? Required 3A Required 3B Return on total assets Return On Total Assets Choose Numerator: 1 Choose Denominator: Return On Total Assets Return on total assets Current Year: 1 Year Ago: Required 38 >