[The following information applies to the questions displayed below.]

Simon Companys year-end balance sheets follow.

	At December 31			2015			2014			2013
	Assets
	Cash		$	34,033		$	39,781		$	41,439
	Accounts receivable, net			89,800			62,100			51,200
	Merchandise inventory			112,500			84,000			52,000
	Prepaid expenses			10,960			10,443			4,604
	Plant assets, net			335,359			305,962			273,557
	Total assets		$	582,652		$	502,286		$	422,800
	Liabilities and Equity
	Accounts payable		$	143,630		$	84,037		$	55,252
	Long-term notes payable secured by mortgages on plant assets			108,443			114,371			92,504
	Common stock, $10 par value			162,500			162,500			162,500
	Retained earnings			168,079			141,378			112,544
	Total liabilities and equity		$	582,652		$	502,286		$	422,800

The companys income statements for the years ended December 31, 2015 and 2014, follow. Assume that all sales are on credit:

For Year Ended December 31

2015

2014

Sales

$

757,448

$

597,720

Cost of goods sold

$

462,043

$

388,518

Other operating expenses

234,809

151,223

Interest expense

12,877

13,748

Income taxes

9,847

8,966

Total costs and expenses

719,576

562,455

Net income

$

37,872

$

35,265

Earnings per share

$

2.33

$

2.17

Profit Margin Ratio
	Choose Numerator:	/	Choose Denominator:	=	Profit Margin Ratio
		/		=	Profit margin ratio
2015		/		=		%
2014		/		=		%