Simon Company's year-end balance sheets follow. Current Yr 1 Yr Ago 2 Yrs Ago S 30.600 89.300 110.500 10.700 277,000 $518,100 S 35.750 S 38.600 63.500 50.000 81.000 54,500 9.200 5 , 400 251,000 232,000 $440,450 $ 380.500 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 $128,800 $ 72,250 $ 50,600 97,500 161,000 130,800 $518,100 101,750 B3,600 161,000 161.000 105, 450 B5, 300 $440,450 $ 380,500 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 $ 755,000 $460,550 234,050 12, 200 9.400 716,200 $38.800 1 Yr Ago $ 600,000 $378,000 138,000 13,200 8.675 537,875 S 62.125 $ 2.41 $ 3.86 For both the Current Year and 1 Year Ago, compute the following ratios: 11-a) Profit margin ratio. 11-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 Profit margin ratio. Profit Margin Ratio I Choose Denominator: Choose Numerator: = Profit Margin Ratio = Profit margin ratio Current Year: 1 Year Ago: Lulpiele uns queSLIUII Dy Lury your diswers III Le Laus Deiuw. Required 1A Required 1B Did profit margin improve or worsen in the Current Year versus 1 Year Ago? Profit margin