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 $ 31,400 86,300 110,500 10,800 280,000 $519,000 $ 35,000 $ 37,000 63,500 50,000 83,400 54,000 9,450 5,000 258,500 232,000 $449,850 $ 378,000 $129,600 $ 73,250 $ 51,600 95,500 101,250 82,209 161,000 161,000 161,000 132,900 114,350 83,200 $519,000 $449,850 $ 378,000 The company's income statements for the Current Year and 1 Year Ago follow. For Year Ended December 31 Current Yr 1 Yr Ago Sales $765,000 $ 570,000 Cost of goods sold $451, 350 $ 359,100 other operating expenses 237,150 142,500 Interest expense 11,900 13,400 Income tax expense 9, 350 8,700 Total costs and expenses 709, 750 523,700 Net income $55,250 $ 46,300 Earnings per share $ 3.43 $ 2.88 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 LA Required 1B Profit margin ratio Profit Margin Ratio | Choose Denominator Choose Numerator Profit Margin Ratio Profit margin to Current Year: 1 Year Ago: RA Required 18 >