Required information [The following information applies to the questions displayed below) Simon Company's year-end balance sheets follow. At December 31 Current Y Assets 1 Yr Ago 2 Yrs Ago Cash $ 30,200 Accounts receivable, net $ 35,250 $30, 200 99,900 62,000 Merchandise inventory 19,500 122, 500 80,800 52,500 Prepaid expenses 10,500 9,450 4,600 Plant assets, net 277,000 256,500 227,000 Total assets 9520,100 $444,000 S 371, 800 Liabilities and Equity Accounts payable $128,000 $ 73,000 $51,200 Long-term notes payable secured by mortgages on plant assets 95,500 101,500 23, 400 Common stock, 510 par value 162) 000 262,200 262,000 Retained earnings 133,800 207,500 75,200 Total liabilities and equity 5520100 $444,000 $971, 800 The company's income statements for the Current Year and 1 Year Ago follow 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 Current Yr 1 Yr Ago $715,000 $610,000 $429,000 $396,500 221, 650 140,300 11,300 12,800 9,300 8,575 671,250 558, 175 $ 43,750 $ 51,825 2.70 $ 3.20 Earnings per share 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 Required 1A Required 1B Profit margin ratio. Profit Margin Ratio Choose Denominator: Choose Numerator: Profit Margin Ratio Profit margin ratio % Current Year 1 Year Ago: Required 18 )