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 Current Year 1 Year Ago 2 Years Ago Cash Accounts receivable, net $ 29,981 90,441 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 110,368 9,951 277,785 $ 518,526 $ 125,240 99,433 162,500 131,353 $ 36,476 62,581 81,042 9,293 257,613 $ 447,005 $ 74,033 100,755 162,500 109,717 $ 518,526 $ 447,005 For both the current year and one year ago, compute the following ratios: $ 36,516 49,171 52,377 4,098 223,038 $ 365,200 $ 49,171 83,130 162,500 70,399 $ 365,200 Exercise 17-10 (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 Interest expense Other operating expenses Income tax expense Total costs and expenses Net income Earnings per share 11,459 Current Year 1 Year Ago $ 674,084 $ 531,936 $ 411,191 208,966 8,763 $ 345,758 134,580 12,235 7,979 640,379 $ 33,705 500,552 $ 31,384 $ 2.07 $ 1.93 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 34 Required 38 Compute return on total assets for the current year and one year ago. Return On Total Assets Numerator: Net income Current Year: $ 1 Year Ago: $ Denominator: Return On Total Assets Average total assets = Return on total assets 33,705/ 0% 31,384/ 0% < Required 2 Required 3B >