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 $ 31,600 88,300 110,500 10,350 277,000 $517,750 $ 35,500 $ 37,600 62,500 49,500 80,200 54,500 9,300 5,100 258,500 230,000 $446,000 $376,700 $129,600 $ 72,250 $ 51,400 96,000 160,500 131,650 $517,750 98,500 83,600 160,500 160,500 114,750 81,200 $446,000 $376,700 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 $725,000 $449,500 224,750 11,600 9,550 695,400 $ 29,600 1 Yr Ago $ 620,000 $396,800 142,600 13,500 8,575 561,475 $ 58,525 $ 3.65 $ 1.84 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. Choose Numerator: Profit Margin Ratio 1 Choose Denominator: 1 Profit Margin Ratio Profit margin ratio / Current Year: # 1 1 Year Ago: (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 (2) Total asset turnover. Total Asset Turnover 1 Choose Denominator: Choose Numerator: Total Asset Turnover Total asset turnover = times Current Year: times 1 Year Ago: (3-a) Return on total assets. (3.b) Based on return on total assets, did Simon's operating efficiency improve or worsen in the Current Year versus 1 Year Ago? Complete this question by entering your answers in the tabs below. Required 3A Required 3B Return on total assets Return On Total Assets Choose Numerator: 1 Choose Denominator: Return On Total Assets Return on total assets % # Current Year: 1 Year Ago: (3-a) Return on total assets. (3-b) Based on return on total assets, did Simon's operating efficiency improve or worsen in the Current Year versus 1 Year Ago? Complete this question by entering your answers in the tabs below. Required 3A Required 38 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