Simon Company's year-end balance sheets follow. 2017 2016 2015 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 secured by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity $ 30,200 $ 35,250 $ 38,400 88,400 62,500 50,500 111,500 80,200 54,000 10,650 9,300 5,400 277,000 253,500 232,000 $517,750 $440,750 $380,300 $128,400 $ 72,250 $ 51,000 95,500 99,250 81,000 163,000 163,000 163,000 130,850 106,250 85,300 $517,750 $440,750 $380,300 The company's income statements for the years ended December 31, 2017 and 2016, follow. For Year Ended December 31 2017 2016 Sales $665,000 $ 580,000 Cost of goods sold $405, 650 $365,400 Other operating expenses 199,500 139,200 Interest expense 11,300 13,100 Income taxes 9,600 8,775 Total costs and expenses 626,050 526,475 Net income $ 38,950 $ 53,525 Earnings per share $ 2.39 $ 3.28 Exercise 17-10 Part 1 (1) Profit margin ratio Choose Numerator: Profit Margin Ratio | Choose Denominator: 1 1 2017 / Profit Margin Ratio Profit margin ratio % % = 2016 (2) Total asset turnover. Total Asset Turnover Choose Numerator: Choose Denominator: 2017 Total Asset Turnover = Total asset turnover times times = 2016 (3) Return on total assets. Choose Numerator: Return On Total Assets 1 Choose Denominator: / 11 Return On Total Assets Return on total assets % 2017 / 2016 HI %