Simon Company's year-end balance sheets follow. At December 31 Assets Current Year 1 Year Ago 2...

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Simon Company's year-end balance sheets follow. At December 31 Assets Current Year 1 Year Ago 2 Years Ago Cash $ 30,200 $ 35,500 Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable 88,800 111,500 10,900 279,000 $ 520,400 160,000 $ 129,200 Long-term notes payable 95,000 Common stock, $10 par value Retained earnings Total liabilities and equity 136,200 $ 520,400 62,000 82,000 9,400 249,000 $ 437,900 $ 74,750 101,000 160,000 102,150 $ 437,900 $ 37,200 49,000 52,000 4,200 228,000 $ 370,400 $ 51,400 83,800 160,000 75,200 $ 370,400 The company's Income statements for the Current Year and 1 Year Ago, follow. For Year Ended December 31 Sales Current Year $ 735,000 Cost of goods sold Interest expense Income tax expense Other operating expenses Total costs and expenses Net income $ 448,350 235,200 11,500 9,400 1 Year Ago $ 590,000 $ 371,700 147,500 13,400 8,550 Earnings per share 704,450 $ 30,550 $ 1.91 For both the Current Year and 1 Year Ago, compute the following ratios: 541,150 $ 48,850 $ 3.05 (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 18 Compute profit margin ratio for the current year and one year ago. Current Year: 1 Year Ago: Numerator: Profit Margin Ratio Denominator: Profit Margin Ratio = Profit margin ratio = % 1 1 = % Simon Company's year-end balance sheets follow. At December 31 Assets Current Year 1 Year Ago 2 Years Ago Cash $ 30,200 $ 35,500 Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable 88,800 111,500 10,900 279,000 $ 520,400 160,000 $ 129,200 Long-term notes payable 95,000 Common stock, $10 par value Retained earnings Total liabilities and equity 136,200 $ 520,400 62,000 82,000 9,400 249,000 $ 437,900 $ 74,750 101,000 160,000 102,150 $ 437,900 $ 37,200 49,000 52,000 4,200 228,000 $ 370,400 $ 51,400 83,800 160,000 75,200 $ 370,400 The company's Income statements for the Current Year and 1 Year Ago, follow. For Year Ended December 31 Sales Current Year $ 735,000 Cost of goods sold Interest expense Income tax expense Other operating expenses Total costs and expenses Net income $ 448,350 235,200 11,500 9,400 1 Year Ago $ 590,000 $ 371,700 147,500 13,400 8,550 Earnings per share 704,450 $ 30,550 $ 1.91 For both the Current Year and 1 Year Ago, compute the following ratios: 541,150 $ 48,850 $ 3.05 (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 18 Compute profit margin ratio for the current year and one year ago. Current Year: 1 Year Ago: Numerator: Profit Margin Ratio Denominator: Profit Margin Ratio = Profit margin ratio = % 1 1 = %