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 Accounts payable Long-term notes payable Common stock, $10 par value Retained earnings Total liabilities and equity Current Year 1 Year Ago 2 Years Ago $ 35,625 62,500 $ 31,800 89,500 112,500 10,700 278,500 $ 523,000 $ 129,900 98,500 163,500 131,100 $ 523,000 82,500 9,375 255,000 $ 445,000. $ 75,250 101,500 163,500 104,750 $ 445,000 $ 37,800 50,200 54,000 5,000 230,500 $ 377,500 $ 51,250 83,500 163,500 79,250 $ 377,500 The company's income statements for the current year and 1 year ago, follow For Year Ended December 31 Sales Cost of goods sold Current Year $ 673,500 $411,225 209,550 Other operating expenses Interest expense Income tax expense Total costs and expenses 12,100 9.525 642,400 1 Year Ago $532,000 $ 345,500 134,980 13,300 8,845 502,625 For Year Ended December 31 Sales Cost of goods sold Other operating expenses Interest expense Income tax expense Total costs and expenses Net income Earnings per share Current Year $ 411,225 209,550 12,100 9,525 1 Year Ago $ 532,000 $ 673,500 $ 345,500 642,400 $ 31,100 $ 1.90 For both the Current Year and 1 Year Ago, compute the following ratios 134,980 13,300 8,845 502,625 $ 29,375 $1.80 (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 > Did profit margin improve or worsen in the Current Year versus 1 Year Ago? Profit margin