Simon Company's year-end balance sheets follow At December 31 AssetS Cash Accounts receivable, net Merchandise inventor Prepaid expenses Plant assets, net Total assets 2017 2016 2015 $ 32,000 35,250 37,200 50,500 52,500 4,800 281,000 258,000 230,000 $522,850 445,850 375,000 63,000 00 9,200 88,100 111,000 80,4 10,750 Liabilities and Equity Accounts payable Long-term notes payable secured by $128,000 73,250 $ 50,000 mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity 82,400 161,500 161,500161,500 111,850811100 $522,850 445,850 375,000 97,500 99,250 135,850 111,850 The company's income statements for the years ended December 31, 2017 and 2016, follow For Year Ended December 31 Sales Cost of goods sold Other operating expenses Interest expense Income taxes Total costs and expenses Net income 2017 2016 $775,000 $ 630,000 $472,750 224,750 12,200 9,450 $403,200 151,200 13,300 8.825 719,150 $ 55,850 $3.46 576,525 $ 53,475 $ 3.31 Earnings per share Evaluate the company's efficiency and profitability by computing the following for 2017 and 2016 1) Profit margin ratio Profit Margin Ratio Choose Numerator: Choose Denominator: Profit Margin Ratio Profit margin ratio 2017 2016