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 Connon stock, $10 par Value Retained earnings Total liabilities and equity $ 30,800 88,400 112,500 10,900 279,000 $521,600 $ 35,250 $ 37,800 61,080 50,000 83,000 54,080 9,300 4,000 254,500 229,800 $443,950 $ 374,000 $129,600 $ 73,250 $ 50,200 95,000 160,500 136,500 $521,600 98, 250 88,888 160,580 168,500 111,050 82, Sea $443, ese $ 374,000 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 Tnterest expense Income tax expense Total costs and expenses Net Income Earnings per share Current Yr $765,000 $474, 390 244,880 12,699 9,55 740,650 $ 24, 350 $ 1.52 1 Yr Ago 5 590,000 $371,700 141,600 13,000 8,575 534,875 $ 55, 125 $ 3.43 For both the Current Year and 1 Year Ago, compute the following ratios: (1-0) Profit margin ratio. (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 1B Total liabilities and equity 5521,600 $443,050 $ 374,000 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 income Earnings per share Current Yr $765,000 $474,300 244,800 12,000 9,550 740,650 $ 24,350 $ 1.52 1 Yr Ago $ 590,000 $371,700 141,600 13,000 8,575 534,875 $ 55,125 $ 3.43 _03 For both the Current Year and 1 Year Ago, compute the following ratios: (1-a) Profit margin ratio. (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 Profit margin ratio. Profit Marcin Ratio 1 Choose Denominator: Choose Numerator: 1 Profit Margin Ratio Profit margin ratio 96 Current Year: 1 Year Ago: Required a Required 18 > For both the current Year and 1 Year Ago, compute the following ratios: (1-a) Profit margin ratio. (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 1B Did profit margin improve or worsen in the current Year versus 1 Year Ago? Profit margin
