Chapter 13 Exercise Saved 00 ! Required information (The following information applies to the questions displayed below.] 0.66 points Simon Company's year-end balance sheets follow. Skipped Current Yr 1 Yr Ago 2 Yrs Ago eBook 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 $ 31,200 86,300 112,000 10,250 280,000 $519,750 $ 36,000 $ 37,000 62,500 49,500 80,400 53,000 9,300 4,700 249,500 230,000 $437,700 $ 374,200 Co Hint $129,600 $ 73,000 $ 51,600 Print 96,000 162,500 131,650 $519,750 98,000 81,600 162,500 162,500 104,200 78,500 $437,700 $ 374,200 References 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 $ 705,000 $423,000 218,550 12,000 9,300 662,850 $ 42,150 1 Yr Ago $ 620,000 $ 396,800 148,800 13,300 9,000 567,900 $ 52,100 $ 2.59 $ 3.21 For both the Current Year and 1 Year Ago, compute the following ratios: (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? (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? Complete this question by entering your answers in the tabs below. Required 3A Required 3B Return on total assets Return On Total Assets Choose Numerator: 1 Choose Denominator: Return On Total Assets = Return on total assets Current Year: = 1 Year Ago: