Simon Company's year-end balance sheets follow. At December 31 Assets Cash Accounts receivable, net Merchandise Inventory Prepaid expenses Plant assets, net 2015 2014 2013 $ 31,800 $ 35,625 $ 37,800 89.500 62,500 50,200 112,500 82,500 54,000 0,700 9,375 5,000 278,500 255,000 230,500 377,500 $523,000 $445,000 $ Total assets Liabilities and Equity Accounts payable Long-term notes payable secured by $ 129,900 $75,250 $ 51,250 mortgages on plant assets Common stock, $10 par value Retained earnings 98,500 101,500 83,500 163,500 163,500 163,500 131,100 104,750 79,250 $523,000 $445,000 $377500 Total liabilities and equity The company's income statements for the years ended December 31, 2015 and 2014 follow. For Year Ended December 31 2015 2014 532,000 $673,500 Sales Cost of goods sold 411,225 Other operating $345,500 134,980 13,300 209,550 expenses Interest expense Income taxes 12,100 9,525 8,845 Total costs and 502,625 642,400 $ 31100 $1.90 expenses $29,375 Net Income $1.80 Earnings per share Evaluate the company's efficiency and profitability by computing the following for 2015 and 2014 (1) Profit margin ratio. Profit Margin Ratio Choose Numerator: Choose Profit Margin Ratio Denominator: Profit margin ratio 2015 2014 01 %