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 $ 31,000 86,200 111,500 10,500 281,000 $520,200 $ 35,250 $ 38,400 61,500 50,500 80,400 53,000 9,400 5,400 248,000 226,000 $434,550 $ 373,300 $128,800 $ 72,250 $ 50,800 96,500 164,000 130,900 $520,200 101,500 84,000 164,000 164,000 96,800 74,500 $434,550 $ 373,300 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 $715,000 $421,850 221,650 11,500 9,550 664,550 $ 50, 450 $ 3.08 1 Yr Ago $ 550,000 $341,000 132,000 12,600 8,875 494,475 $ 55, 525 $ 3.39 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. Choose Numerator: Il Profit Margin Ratio 1 Choose Denominator: 1 1 Il Profit Margin Ratio Profit margin ratio % % Current Year: 1 Year Ago: 1 =