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 $ 30,600 Accounts receivable, net $ 35,250 $ 37,600 Merchandise inventory 88,000 62,500 50,000 111,500 83,600 54,000 Prepaid expenses 10,300 9,300 4,200 Plant assets, not 277,000 251,500 225,000 Total assets $517,400 $442,150 $ 370,800 Liabilities and Equity Accounts payable $128,800 $ 73, 750 $ 50,200 Long-tern notes payable secured by mortgages on plant assets 97,500 99, 250 81,000 Common stock, $10 par value 162,000 162,000 162,000 Retained earnings 129, 100 107, 150 77,600 Total liabilities and equity $517,400 $442,150 $ 370,800 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 $ 755,000 $630,000 Cost of goods sold $468,100 $396,900 Other operating expenses 234,050 151,200 Interest expense 11,200 13,400 Income tax expense 9,550 8,625 Total costs and expenses 722,900 570,125 Net income $ 32,100 $ 59,875 Earnings per share $ 1.98 $ 3.70 1 Gmail Saved Net Income Earnings per share $ 32,100 $ 59,875 $ 1.98 5 3.70 For both the Current Year and 1 Year Ago, compute the following ratios: (3-a) 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 Ag Complete this question by entering your answers in the tabs below. Required 3A Required 38 Return on total assets Return On Total Assets Choose Numerator: V Choose Denominator Return On Total Assets Retum on total assets Net income Earnings per share $ 32,100 $ 1.98 $ 59,875 $ 3.70 For both the Current Year and 1 Year Ago, compute the following ratios: (3-a) 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? Complete this question by entering your answers in the tabs below. Required 3A Required 38 Based on return on total assets, did Simon's operating efficiency improve or worsen in the current Year versus 1 Year Ago? Roturn on total assots