[The following information applies to the questions displayed below.] Simon Company's year-end balance sheets follow. At December 31 Current Year 1 Year Ago 2 Years Ago Assets Cash $ 30,400 $ 36,500 $ 37,400 Accounts receivable, nett 86,000 61,500 50,000 Merchandise inventoryy 112,000 1,60 53,500 Prepaid expenses 10,700 9,350 5,000 Plant assets, nett 281,00 249,500 230,000 Total assets $ 520,100 $ 438,450 375,900 Liabilities and Equity Accounts payable $ 129,600 $74,000 $ 51,200 Long-term notes payable 95,500 99,500 81,800 Common stock, $10 pair valluce 60,500 160,500 160,500 Retained earnings 134,500 104,450 82,400 Total liabilities and equityy $ 520,100 $ 438,450 $ 375,900 The company's income statements for the Current Year and 1 Year Ago, follow. For Year Ended Dece Currentt Yearr Sales $ 715,000 $ 630,000 Cost of goods saldi $ 443,300 $403,200 Other operating ex 221,650 144,900 Interest expense 11,300 12,900 Income tax expense 9,550 8,850 Total costs and expensess 685,800 569,850 Net income $ 29,200 $ 60,150 Earnings per share $ 1.82 $ 3.75 For both the Current Year and 1 Year Ago, compute the following ratios: 13. Award: 2.00 points (1-a) Compute profit margin ratio for the current year and one year ago. (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 Compute profit margin ratio for the current year and one year ago. Profit Margin Ratio Numerator: Denominator: Profit Margin Ratio = Profit margin ratio Current Year: 1 Year Ago: 0%