Simon Company's year-end balance sheets follow. At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Current Year 1 Year Ago 2 Years Ago $ 30,400 89,500 113,000 $ 35,250 $ 37,600 61,000 51,000 54,500 10,450 278,000 83,000 9,350 257,000 $ 445,600 $ 521,350 Accounts payable $ 128,800 $ 74,000 Long-term notes payable 97,500 Common stock, $10 par value 161,000 Retained earnings 134,050 Total liabilities and equity $ 521,350 100,000 161,000 110,600 $445,600 4,100 226,000 $ 373,200 $ 51,000 80,600 161,000 80,600 $ 373,200 The company's income statements for the Current Year and 1 Year Ago, follow. For Year Ended December 31 Sales Cost of goods sold Other operating expenses Interest expense Income tax expense Current Year $ 745,000 $ 447,000 230,950 12,100 9,400 1 Year Ago $ 580,000 $ 359,600 133,400 13,100 8,850 Total costs and expenses Net income 699,450 $ 45,550 Earnings per share $ 2.83 For both the Current Year and 1 Year Ago, compute the following ratios 514,950 $ 65,050 $ 4.04 (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? Complete this question by entering your answers in the tabs below. Required 1A Required 18 Compute profit margin ratio for the current year and one year ago. Current Year: 1 Year Ago: Numerator: Profit Margin Ratio Denominator: Profit Margin Ratio Profit margin ratio % Required 18> % (2) Compute total asset turnover for the current year and one year ago. Current Year: 1 Year Ago: Total Asset Turnover Numerator: Denominator: Total Asset Turnover Total asset turnover times = times 3 of 3 (3-a) Compute return on total assets for the current year and one year ago. (3-b) Based on return on total assets, did Simon's operating efficiency improve or worsen in the Current Year versus 1 Year Ago? Complete this question by entering your answers in the tabs below. eBook Required 3A Required 38 H Peyt arances Compute return on total assets for the current year and one year ago. Current Year: 1 Year Ago: Return On Total Assets Numerator: Denominator: Return On Total Assets Return on total assets Required 38 >