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 $ 30,200 89, 900 112,500 10,500 277,000 $520,100 $ 35, 250 S 38,200 62,000 49, 500 80, 800 52,500 9,450 4,600 256,500 227,000 $444,000 $371, 800 $128, 800 $ 75,000 $ 51,200 95,500 162,000 133, 800 $520/ 100 101,500 83, 400 162,000 162,000 107,500 75,200 $444,000 $371, 800 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 $715,000 $429,000 221, 650 11,300 9,300 671,250 $ 43,750 s 2.70 1 Yr Ago $ 610,000 $396,500 140,300 12, 800 8,575 558, 175 $ 51,825 s 3.20 For both the Current Year and 1 Year Ago, compute the following ratios. (2) Total asset turnover. Total Asset Tumover Choose Denominator Choose Numerator Total Asset Turnover Total asset tumover times Current Year: 1 Year Ago: times