Simon Companys year$-$end balance sheets follow.At December $31$Current Year$1$ Year Ago$2$ Years AgoAssets Cash$ $32,000$$ $36,250$$ $37,600$Accounts receivable, net$88,30061,50050,000$Merchandise inventory$110,50080,00053,500$Prepaid expenses$10,2009,3504,000$Plant assets, net$279,000249,000234,000$Total assets$ $520,000$$ $436,100$$ $379,100$Liabilities and Equity Accounts payable$ $129,600$$ $73,750$$ $50,000$Long$-$term notes payable$96,00099,75081,400$Common stock, $$10$ par value$163,500163,500163,500$Retained earnings$130,90099,10084,200$Total liabilities and equity$ $520,000$$ $436,100$$ $379,100$The companys income statements for the Current Year and $1$ Year Ago, follow.For Year Ended December $31$Current Year$1$ Year AgoSales $ $745,000$ $ $550,000$Cost of goods sold$ $447,000$ $ $346,500$ Other operating expenses$230,950137,500$ Interest expense$11,50012,800$ Income tax expense$9,5508,975$ Total costs and expenses $699,000505,775$Net income $ $46,000$ $ $44,225$Earnings per share $ $2\mathrm{.}81$ $ $2\mathrm{.}70$For both the Current Year and $1$ Year Ago, compute the following ratios:$(1-$a$)$ Compute profit margin ratio for the current year and one year ago.$(1-$b$)$ Did profit margin improve or worsen in the Current Year versus $1$ Year Ago? PrevQuestion $13$ linked to $14$ and $15$ of $19$ Total