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 Accounts payable Long-term notes payable Common stock, $10 par value Retained earnings Total liabilities and equity Current Year 1 Year Ago 2 Years Ago $ 33,190 94,308 $ 38,035 $ 38,439 65,896 118,575 10,698 294,749 $ 551,510. 85,318 10,084 276,107 $ 475,440 52,821 56,823 4,402 243,715 $ 396,200 $ 52,298 85,809 163,500 94,593 $ 134,579 104,721 163,500 148,710 $ 81,153 108,258 163,500 122,529 $ 396,200 $ 551,510 $ 475,440 For both the current year and one year ago, compute the following ratios: 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 Cost of goods sold $437,347 222,259 12,188 1 Year Ago Current Year $ 716,963 $367,753 Other operating expenses Interest expense Income tax expense 9.321 143,141 13,013 8,487 Total costs and expenses 681,115 Net income $ 35,848 Earnings per share $2.21 $565,774 532,394 $33,380 $2.05 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? Complete this question by entering your answers in the tabs below. Required 1A Required 18 Required 2 Required 3A Required 38 Compute profit margin ratio for the current year and one year ago.