Simon Company's year-end balance sheets follow. Current Yr 1 Yr Ago 2 Yrs Ago At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net $ 30,400 88,500 110,500 10,950 277,000 $ 35,250 $ 38,000 62,500 49,500 81,800 52,500 9, 200 5,000 252,500 229,000 $441,250 $ 374,000 $517, 350 $129, 600 $ 75,000 $ 50, 800 Total assets Liabilities and Equity Accounts payable Long-term notes payable secured by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity 96,000 161,500 130, 250 $517, 350 100, 250 84,000 161,500 161,500 104,500 77,700 $441,250 $ 374,000 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 Current Yr $ $735,000 $448, 350 227,850 12, 100 9, 400 697, 700 $ 37, 300 1 Yr Ago $640,000 $403, 200 147,200 13, 400 8,525 572, 325 Net income $ 67, 675 Earnings per share $ 2.31 $ 4.19 For both the Current Year and 1 Year Ago, compute the following ratios: Exercise 13-10 Part 1 (1-a) Profit margin ratio. (1-6) 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 Profit margin ratio. Profit Margin Ratio 1 Choose Denominator: Choose Numerator: Profit Margin Ratio Profit margin ratio % Current Year: Il % 1 Year Ago: Required 1B) Exercise 13-10 Part 1 (1-a) Profit margin ratio. (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 Did profit margin improve or worsen in the Current Year versus 1 Year Ago? Profit margin