external_browser=08launchUrl=https%253A%25 Saved Ch 13: Quiz 5 Required Information The following Information applies to the questions displayed below.] Part 3 of 3 Year-end balance sheets follow. At December 31 Current Year 1 Year Ago 2 Years Ago Assets Cash $ 31, 800 $ 35,250 $ 37,400 89 , 800 63,090 49,500 points Accounts receivable, net Inventory 112, 060 84, 000 53,000 Prepaid rent 10,950 9. 450 4,300 8 00:32-56 Equipment, net 278, 090 251, 090 235,090 Total assets $ 522,550 $ 442,700 $ 379, 200 Liabilities and Equity Accounts payable $ 129, 200 $ 74,758 $51,090 Notes payable 95 , 500 99, 250 82,800 Common stock, $2 par value 160,500 160,500 160,500 Retained earnings 137, 350 108, 206 84,900 Total liabilities and equity $ 522, 550 $ 442,700 $ 379,200 Income statement data for the Current Year and 1 Year Ago follow. For Year Ended December 31 Current Year 1 Year Ago Net sales $ 755,090 $630,600 Total costs and expenses 723, 250 570,225 Net income $ 31,750 $ 59,775 Earnings per share $ 1.98 $ 3.72 Enter answers in the tabs below. Requirement Requirement 3A 3B Did profit margin improve or worsen in the Current Year versus 1 Year Ago? Profit margin T- Previous Improved Worsened