Simon Company's year-end balance sheets follow. Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable At December 31 Assets Current Year 1 Year Ago 2 Years Ago Cash Accounts receivable, net $ 31,800 89,500 112,500 $ 35,625 62,500 $ 523,000 $ 129,900 Long-term notes payable Common stock, $10 par value Retained earnings 98,500 163,500 131,100 Total liabilities and equity $ 523,000 $ 445,000 10,700 278,500 82,500 9,375 255,000 $ 445,000 $ 75,250 101,500 163,500 104,750 $ 37,800 50,200 54,000 5,000 230,500 $ 377,500 $ 51,250 83,500 163,500 79,250 $ 377,500 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 Current Year $ 673,500 $ 411,225 1 Year Ago $ 532,000 209,550 12,100 9,525 642,400 $ 31,100 $ 1.90 $ 345,500 134,980 13,300 8,845 502,625 $ 29,375 $ 1.80 Earnings per share For both the Current Year and 1 Year Ago, compute the following ratios: (2) Compute total asset turnover for the current year and one year ago. (2) Compute total asset turnover for the current year and one year ago. Total Asset Turnover Current Year: 1 Year Ago: Numerator: 1 1 - Denominator: = Total asset turnover = times = times