Simon Company's year-end balance sheets follow. Current Year 1 Year Ago 2 Years Ago 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 $ 31,800 86,600 111,500 10,800 281,000 $ 521,700 $ 35,750 62,500 81,000 9,250 255,000 $ 443,500 $ 37,400 51 , 53,500 4,700 231 , $ 377,600 $ 128,400 96,000 160,500 136,800 $ 521,700 $ 75,250 101,000 160, 500 106, 750 $ 443,500 $ 51,400 82,000 160, 500 83,700 $ 377,600 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 Total costs and expenses Net income Earnings per share Current Year $ 705,000 $ 423,000 218,550 11,700 9,350 662,600 $ 42,400 $ 2.64 1 Year Ago $570,000 $ 364,800 136,800 13,100 8,975 523,675 $ 46,325 $ 2.89 For both the Current Year and 1 Year Ago, compute the following ratios: (2) Compute total asset turnover for the current year and one year ago. Total Asset Turnover Denominator: Numerator: Total Asset Turnover Total asset turnover 100 times Current Year: 1 Year Ago: 11 times