Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.) Simon Company's year-end balance sheets follow. Current Year 1 Year Ago 2 Years 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 Common stock, $10 par value Retained earnings Total liabilities and equity $ 26,544 80,898 100, 717 8,989 246,665 $ 463,813 $ 31,987 57,097 73,231 8,229 229,295 $ 399,839 $ 32,987 43,982 46,846 3,556 202,529 $ 329,900 $ 118,954 88,941 163,500 92,418 $ 463,813 $ 69,600 92,883 162,500 74,856 $ 399,839 $ 43,111 72,179 163,500 51,110 $ 329,900 Part 2 of 2 25 points The company's income statements for the current year and 1 year ago, follow. For Year Ended December 31 Current Year 1 Year Ago Sales $ 682,957 $ 475,808 Cost of goods sold $ 367,804 $ 309,275 Other operating expenses 186,917 120, 379 Interest expense 10,250 10,944 Income tax expense 7,838 7,137 Total costs and expenses 572,809 447,735 Net income $ 30,148 $ 28,073 Earnings per share $ 1.86 $ 1.73 For both the Current Year and 1 Year Ago, compute the following ratios Compute total asset turnover for the current year and one year ago. Total Asset Turnover Numerator: Denominator: Net sales 1 Average total assets Current Year: 399,839 : $ 463,813 1 Year Ago: S 399,839 / $ 329,900 Total Asset Turnover Total asset turnover times 1.2. times 0.9