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 $ 32,000 $ 35,500 $ 38,200 88,000 62,500 50,500 113,000 81,000 54,000 10,950 9,400 5,200 278,000 253,500 230,000 $521,950 $441,900 $377,900 bed $128,800 $ 74,250 $ 50,200 97,000 99, 250 80,400 161,000 161,000 161,000 135,150 107,400 86,300 $521,950 $441,900 $377,900 A The company's income statements for the years ended December 31, 2017 and 2016, follow. int rences For Year Ended December 31 Sales Cost of goods sold Other operating expenses Interest expense Income taxes Total costs and expenses Net income Earnings per share 2017 $665,000 $412,300 186,200 12,300 9,350 2016 $610,000 $390,400 146,400 13,200 8,550 558,550 $ 51,450 $ 3.20 620, 150 44,850 2.79 Exercise 13-10 Part 1 (1) Profit margin ratio. Profit Margin Ratio Choose Denominator: Choose Numerator: = Profit Margin Ratio Profit margin ratio 2017 2016 Exercise 13-10 Part 2 (2) Total asset turnover. Total Asset Turnover Choose Denominator: Choose Numerator: = = Total Asset Turnover Total asset turnover times 2017 2016 times Exercise 13-10 Part 3 (3) Return on total assets. Return On Total Assets | Choose Denominator: Choose Numerator: = Return On Total Assets Return on total assets 2017 2016