Simon Company's year end balance sheets follow. Current Yr 1 Yr Ago 2 Yrs Ago 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 $ 32,400 87,400 119,500 10,800 277.000 $518,100 $ 35,250 $ 37,499 64,000 50, 500 82, 18e 52,500 9,400 4,208 249,500 231, 809 $440,558 5 375,688 $128,400 $ 73,750 $ 50,888 99,000 160,500 131,200 5518,100 99,080 83,800 168,500 160, see 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 Sales Cost of goods sold Other operating expenses Interest expense Income tax expense Total costs and expenses + Current Yr 5725,000 $442,258 224,758 12,100 9,400 688.500 C 26 500 1 Yr Ago $ 590,880 5371,700 141,600 12,900 8,888 535 000 CRA HE NE 5518,00 0,035, $128,400 $ 73,750 $ 50,800 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 98,800 160,500 131,200 $518,100 99,000 83, Bee 160,500 160, see 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 Sales Cost of goods sold Other operating expenses Interest expense Income tax expense Total costs and expenses Net income Earnings per share Current Yr $725,000 $442,250 224,750 12,100 9,400 688,589 $_36,500 $ 2.27 1 Yr Ago $ 590,000 $321,700 141,600 12,980 8,800 535,000 $ 55,000 $ 3.43 For both the Current Year and 1 Year Ago, compute the following ratios: (3-0) Return on total assets. (3-b) Based on return on total assets, did Simon's operating efficiency improve or worsen in the Current Year versus 1 Year Ago? (3-a) Return on total assets. (3-b) Based on return on total assets, did Simon's operating efficiency improve or worsen in the Current Year versus 1 Year Ago? Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required 3A Required 38 Return on total assets Return On Total Assets Choose Numerator: Net income S Choose Denominator: Average total assols s 518,500 3 = S 440,550 $ Return On Total Assets Return on total assets 96 12.5 % 36,500 70 Current Year: 1 Year Ago: 55,000 Required 3B >