$125,400 $ 73,750 S 50,800 Accounts payable Long-term notes payable secured by mortgages on plant assets Common stock, 510 par value Retained earnings Total liabilities and equity 98, eee 160,500 131,200 $518,100 99,000 83,800 160.00 160,500 107,300 80,500 $440,550 $375,600 The company's income statements for the Current Year and 1 Year Ago follow. For Year Ended December 31 Current Ye 1 yr Ago Sales $725,000 5 590.000 Cost of stoods sold 5442,250 5371,700 Other operating expenses 224,750 141,500 Interest expense 12,100 12.900 Income tax expense 9.00 3.500 Total costs and expenses $15,000 Net income $5.500 $ 55.000 Earnings per share 5 5 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 16 Required 10 Complete this question by entering your answers in the tabs below. Required 1A Required 1B Profit margin ratio. Choose Numerator: Profit Margin Ratio 1 Choose Denominator: 1 Profit Margin Ratio Pront margin ratio 0. 0% Current Year: 1 Year Ago: Required 18 >