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 $ 30,200 87,800 110,500 10,950 279,000 $ 518,450 $ 36,000 62,000 80,400 9,450 256,000 $ 443,850 $ 38,000 50,000 53,500 4,100 229,000 $ 374,600 $ 128,800 96,500 162,500 130,650 $ 518,450 $ 74,000 101,750 162,500 105,600 $ 443,850 $ 51,000 80,600 162,500 80,500 $ 374,600 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 Current Year $ 735,000 $ 441,000 227,850 11,400 9,550 689,800 $ 45,200 1 Year Ago $ 580,000 $ 371,200 145,000 12,800 8,750 537,750 $ 42,250 Earnings per share $ 2.78 $ 2.60 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 1B Compute profit margin ratio for the current year and one year ago. Profit Margin Ratio Numerator: Denominator: Profit Margin Ratio Profit margin ratio 1 Current Year: 1 % 1 Year Ago: / %