Simon Company's year-end balance sheets follow. 2017 2016 201 s31,000 36,000 s 38,400 88,700 63,500 50,000 110,500 83,000 54,50o 10,700 9,300 4,200 282,000 248,000 232,000 $522,900 $439,800 $379,100 Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable Long-term notes payable secured by $129,600 74,500 51,000 mortgages on plant assets Common stock; $10 par value Retained earnings Total liabilities and equity 96,00098,000 82,400 163,000 163,000 163,000 134, 300 104,300 82,700 $522,900 $439,800 $379,100 The company's income statements for the years ended December 31, 2017 and 2016, follow 2017 2016 610,000 $695,000 Sales Cost of goods sold Other operating expenses Interest expense Income taxes Total costs and expenses Net income $417,000 201,550 12,200 9,400 $378,200 146,400 12,900 8,750 546,250 $ 63,750 $3.91 640,150 $54, 850 $3.37 Earnings per share Evaluate the companvs efficiencv and profitabilitv bv comoutina the followina for 2017 and 2016. ts Evaluate the company's efficiency and profitability by computing the following for 2017 and 2016 Hint Exercise 13-10 Part 1 Print rences (1) Profit margin ratio. Profit Margin Ratio Choose Deno Profit Margin ator Choose Num or: Profit margin ratio 2017 2016