Simon Company's year-end balance sheets follow Current Year 1 Year Ago 2 Years Ago At Deceber 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 89,900 110,500 10,800 277,000 5 518,400 $ 35,000 61,000 83,800 9,500 251, 500 $ 440,800 $ 38,600 50,000 55,000 4,400 230, eee $ 378,000 $ 129,600 98,00 161,500 129, 300 $ 518,400 $ 72,500 99,000 161,500 1ez, 800 $ 440,300 $ 50,280 84,000 161,500 82,300 $ 378,000 The company's income statements for the Current Year and 1 Year Ago Follow 1 Year ago $ 550,000 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 $ 765,000 5443,700 244,800 11.900 9,600 710.000 $ 55,000 $ 341,000 137,500 13,30 8,600 500,400 $ 49,600 $ 3.02 5 3.41 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 16 Compute profit margin ratio for the current year and one year ago 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 $ 765,000 $ 443,700 244,800 11,900 9,600 210,000 $ 55,000 $ 3.41 1 Year Ago $ 550,000 5 341,000 137,500 13,300 8,600 500,400 $ 49,600 $ 3.07 For both the Current Year and 1 Year Ago, compute the following ratios: (1-0) 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 Profit Margio Ratio Numerator: Denominator Protit Margin Ratio Profit margin ratio Current Year: 1 Year Ago: Required 18 ) Retained earnings Total liabilities and equity 129,300 $518,400 107,800 5.440, 800 82,300 $ 378,000 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 $ 765,000 $ 443,700 244,800 11,989 9,600 1 Year Ago $ 550,000 $ 341,000 137,500 13,300 8,600 500,400 $ 49,600 5 3.07 710.000 $ 55,000 5 3.41 For both the Current Year and 1 Year Ago. compute the following ratios (1-0) 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 Did profit margin improve or worsen in the Current Year versus 1 Year Ago? Profit margin