Simon Company's year-end balance sheets follow 2015 At December 31 Assets Cash Accounts receivable, net Merchandise Inventory Prepaid expenses Plant assets, net Total assets 2016 2014 $ 31,800 $ 35,625 $ 37,800 50,200 54,000 5,000 230,500 $523,000 445,000 $ 377,500 89,500 112,500 10,700 278,500 62,500 82,500 9,375 255,000 Liabilities and Equity Accounts payable $ 129,900 $ 75,250 51,250 ong-term notes payable secured by 98,500 101,500 83,500 mortgages on plant assets Common stock, $10 par value Retained earnings Total liabllities and equity 163,500 79,250 $523,000 445,000 $ 377,500 163,500 131,100 163,500 104,750 The company's income statements for the years ended December 31, 2016 and 2015, follow. Assume that all sales are on credit: For Year Ended December 31 Sales Cost of goods sold Other operating expenses Interest expense Income taxes Total costs and expenses Net Income 2016 2015 $ 673,500 $ 532,000 $411,225 209,550 12,100 9,525 $ 345,500 134,980 13,300 8,845 642,400 $ 31,100 1.90 502,625 $ 29,375 1.80 Earnings per share Evaluate the company's efficiency and profitability by computing the following for 2016 and 2015 (1) Profit margin ratio. Profit Margin Ratio Choose Numerator:Choose Denominator:Profit Margin Ratio Net income Net sales Profit margin ratio 31,100S 29,375 S 2016S 673,500 461 % 2015 S 532,000 5.5 % (2) Total asset turnover Total Asset Turnover Choose Numerator: Choose Denominator: Total Asset Turnover Net sales of year total assets | | Total asset turnover 0 times 01 times 2016 2015 (3) Return on total assets. Return On Total Assets Return On Total Choose Numerator: Choose Denominator: - Assets Return on total assets 2016 2015