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, sie par value Retained earnings Total liabilities and equity $ 30,800 88,480 112,500 10,900 279,000 $521,600 $ 35,250 $ 37,880 61,800 50,000 83,000 54,000 9,300 4,000 254,500 229,000 $443,950 $ 374,000 $129,600 $ 73,250 $ 50,200 95,000 160,500 136,500 5521,600 98,250 80,800 160,500 160,500 111,050 82,500 $443,950 $ 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 For both the current Year and 1 Year Ago, compute the following ratios (2) Total asset turnover. Total Asset Turnover Choose Denominator: Choose Numerator: Total Asset Turnover Total asset turnover 11 times Current Year: 1 Year Ago: times