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 $ 31,800 87,100 110,000 10,450 280,000 $519,350 $ 35,000 $ 38, 400 61,500 51,000 81,000 53,000 9,500 4,100 258,500 231,000 $445,500 $ 377,500 $128, 800 $ 72, 750 $ 50, 200 97,500 162,500 130,550 $519,350 99, 250 80, 800 162,500 162,500 111,000 84,000 $445,500 $ 377,500 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 Current Yr $775,000 $480,500 240, 250 1 Yr Ago $620,000 $390, 600 142, 600 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 Current Yr $775,000 $480,500 240, 250 12,300 9,550 742,600 $ 32,400 $ 1.99 1 Yr Ago $620,000 $390, 600 142,600 13,300 8,850 555, 350 $ 64,650 $ 3.98 Earnings per share 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 1B Profit margin ratio. Profit Margin Ratio 1 Choose Denominator: Choose Numerator: - Profit Margin Ratio Profit margin ratio Current Year: 1 Year Ago