Simon Company's year-end balance sheets follow. At December 31 Assets Cash Current Year 1 Year Ago 2 Years Ago Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Common stock, $10 par value Accounts payable Long-term notes payable Retained earnings Total liabilities and equity 9,400 257,000 $ 377,800 $ 30,400 87,600 $ 36,000 62,500 $ 37,000 49,000 110,500 83,400 53,500 10,850 279,000 4,300 234,000 $ 518,350 $ 448,300 $ 129,600 97,500 $ 74,500 162,000 129,250 113,300 $ 518,350 $ 448,300 98,500 162,000 $ 50,600 81,800 162,000 83,400 $ 377,800 The company's income statements for the Current Year and 1 Year Ago, follow. For Year Ended December 31 Sales Cost of goods sold Interest expense Other operating expenses Income tax expense Total costs and expenses Net income Earnings per share Current Year $725,000 $ 427,750 224,750 11,600 9,550 1 Year Ago. $560,000 $ 347,200 134,400 12,600 8,900 503,100 $ 56,900 $ 3.51 673,650 $51,350 $ 3.17 For both the Current Year and 1 Year Ago, compute the following ratios: (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.. Numerators Profit Margin Ratio Denominator: Profit Margin Ratio