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 $ 30,600 87,800 111,000 10,700 276,000 $516,100 $ 35,500 $ 38,400 63,500 51,000 81,000 55,000 9,200 4,900 256,500 226,000 $445,700 $375,300 $129,200 $ 73,000 $ 51,000 97,000 162,000 127,900 $516,100 99, 250 82,800 162,000 162,000 111,450 79,500 $445,700 $375,300 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 $765,000 $466,650 237,150 11,500 9,300 724,600 $ 40,400 $ 2.49 1 Yr Ago $ 600,000 $384,000 138,000 13,500 9,000 544,500 $ 55,500 $ 3.43 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: Required 1A Required 1B > Part 1 of 3 (1-a) Profit margin ratio. (1-b) Did profit margin improve or worsen in the Current Year versus 1 Year Ag 3.5 points Complete this question by entering your answers in the tabs below. Skipped Required 1A Required 1B eBook Did profit margin improve or worsen in the Current Year versus 1 Year Ago? References Profit margin Required 1A Required 18 Improved Worsened