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 87,100 110,500 10,850 281,000 $520,250 $ 35,750 $ 38,400 63,000 50,500 80,600 53,500 9,400 4,600 254,500 235,000 $443,250 $382,000 $129,600 $ 72,250 $ 50,000 96,500 163,500 130,650 $520,250 99,000 83,000 163,500 163,500 108,500 85,500 $443,250 $ 382,000 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 Yr $735,000 $455,700 227,850 11,300 9,600 704,450 $ 30,550 1 Yr Ago $ 620,000 $396,800 155,000 12,700 8,600 573,100 $ 46,900 $ 2.87 $ 1.87 For both the Current Year and 1 Year Ago, compute the following ratios: (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 18 Profit margin ratio. Profit Margin Ratio 7 Choose Denominator: Choose Numerator: = Profit Margin Ratio Profit margin ratio Current Year: 1 Year Ago: 11 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 Required 3A Required 3B Based on return on total assets, did Simon's operating efficiency improve or worsen in the Current Year versus 1 Year Ago? Return on total assets