Simon Company's year-end balance sheets follow. Current Yr 1 Yr Ago 2 Yrs Ago $ 30,000 88,900 112,500 10,850 277,000 $519,250 $ 36,250 $ 38,400 62,000 50,500 82,800 54,000 9,450 4,300 252,500 233,000 $443,000 $380, 200 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 $130,000 72,250 $ 50,800 97,500 99, 250 81,200 160,000 160,000 160,000 131,750 111,500 88,200 $519,250 $443,000 $380,200 The company's income statements for the Current Year and 1 Year Ago, follow. 1 Yr Ago $600,000 $378,000 For Year Ended Current Yr December 31 Sales $725,000 Cost of goods $442,250 sold Other operating 224,750 expenses Interest expense 11,200 Income tax 9,550 expense Total costs and 687,750 expenses Net income $ 37,250 Earnings per $ 2.33 share 150,000 13,200 8,850 550,050 $ 49,950 $ 3.12 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 Required 1A 1B Did profit margin improve or worsen in the Current Year versus 1 Year Ago? Profit margin