Required information Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.] Simon Company's year-end balance sheets follow. At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Current Year 1 Year Ago 2 Years Ago $ 34,495 99,976 $ 38,344 69,870 92,328 10,273 $ 40,366 52,756 57,325 4,396 123,236 10,782 283,314 $494,129 304,701 $573,190 Liabilities and Equity Accounts payable $141,297 Long-term notes payable 108,837 $ 81,838 115,923 Common stock, $10 par value 162,500 163,500 Retained earnings 160,556 132,868 Total liabilities and equity $573,190 $494,129 For both the current year and one year ago, compute the following ratios: 248,857 $403,700 $ 54,354 91,002 163,500 94,844 $ 403,700 Exercise 13-10 (Algo) Analyzing efficiency and profitability LO P3 The company's income statements for the current year and 1 year ago, follow. For Year Ended December 31 Sales i Cost of goods sold Other operating expenses Interest expense Income tax expense Total costs and expenses Net income Earnings per share Current Year $ 454,540 230,996 12,667 1 Year Ago: $ 745,147 $ 382,209 148,768 13,524 8,820 9,687 707,890 $ 37,257 $2.29 $ 588,014 553,321 $ 34,693 $2.13 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? (2) Total asset turnover. (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? (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 1A Required 18 Required 2 Required 3A Required 38 Compute total asset turnover for the current year and one year ago. Total Asset Turnover Numerator: Denominator: Net income Current Year: $ 0/$ Total Asset Turnover Total asset turnover 31 times 1 Year Ago: 0 times Complete this question by entering your answers in the tabs below. Required 1A Required 18 Required 2 Required 3A Required 38 Compute return on total assets for the current year and one year ago. Numerator: Current assets Current Year: 1 Year Ago: Return On Total Assets Denominator: Return On Total Assets Return on total assets 0% 0%