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 Liabilities and Equity Current Year 1 Year Ago 2 Years Ago $ 34,041 60,162 $ 28,257 81,898 104,022 9,564 264,968 $ 488,709 93,715 162,500 113,239 76,382 8,759 241,957 $ 421,301 Accounts payable $ 119,255 Long-term notes payable Common stock, $10 par value Retained earnings $ 71,912 97,868 162,500 89,021 Total liabilities and equity $ 488,709 $ 421,301 For both the current year and one year ago, compute the following ratios: $ 34,417 45,434 47,899 3,900 212,550 $ 344,200 $ 44,980 74,547 162,500 62,173 $344,200 1 Year Ago $ 501,348 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 Year $ 387,546 196,950 $635,322 $ 325,876 10,800 8,259 603,555 $ 31,767 126,841 11,531 7,520 $ 1.95 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? ces (2) Total asset turnover. 471,768 $ 29,580 $ 1.82 (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?