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 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 $ 30,800 88,900 112,000 10,550 280,000 $522, 250 $ 36,000 $ 37,400 63,500 51,000 82,600 54,500 9,500 4,600 259,000 228,000 $450,600 $ 375,500 $128,400 $ 74,000 $ 51,200 96,500 164,000 133, 350 $522, 250 100, 750 83,800 164,000 164,000 111,850 76,500 $450, 600 $ 375,500 The company's income statements for the Current Year and 1 Year Ago, follow. For Year Ended December 31 Current Yr 1 Yr 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 Yr $ 745,000 $439,550 238,400 11,600 9,450 699,000 $ 46,000 $ 2.80 1 Yr Ago $ 540,000 $340,200 129,600 12,600 8,800 491,200 $ 48,800 $ 2.98 For both the Current Year and 1 Year Ago, compute the following ratios: (2) Total asset turnover. Total Asset Turnover 1 Choose Denominator: Choose Numerator: = Total Asset Turnover 1 Total asset turnover Current Year: 7 times 1 Year Ago: / times