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Required Information Exercise 13-10 Analyzing efficiency and profitability LO P3 [The following information applies to the questions displayed below.] Simon Company's year-end balance sheets follow. At December 31 Current Yr 1 Yr Ago 2 Yrs Ago Assets Cash $ 32,480 $ 35,250 $ 38,888 Accounts receivable, net 88,480 63,500 49,500 Merchandise inventory 112,5ee 83,280 53,500 Prepaid expenses 10, 680 9,380 4,780 Plant assets, net 277, Bee 254, see 233,00 Total assets $520,980 $445,750 $ 378,789 Liabilities and Equity Accounts payable $128, 480 $ 73,eee $ 50,480 Long-term notes payable secured by mortgages on plant assets 95,000 98,500 Be, Bee Common stock, $ie par value 162,000 162, eee 162,eee Retained earnings 135,5ee 112,250 85,5ee Total liabilities and equity $520,900 $445,750 $ 378,789 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 $765,800 $ 481,950 237,150 11,500 9, 3ee 739,900 $ 25, 180 1 yr Ago $ 540, eee $334,800 129,680 13, eee 8,550 485,950 $ 54,850 $ 3.34 $ 1.55 For both the Current Year and 1 Year Ago, compute the following ratios: Exercise 13-10 Part 1 (1-a) Profit margin ratio. (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 1B Profit margin ratio. Profit Margin Ratio 1 Choose Denominator: Choose Numerator: = = Profit Margin Ratio Profit margin ratio 96 96 Current Year: 1 = 1 Year Ago: (1-a) Profit margin ratio. (1-1) 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 1B Did profit margin improve or worsen in the Current Year versus 1 Year Ago? Profit margin (3-6) 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 38 Based on return on total assets, did Simon's operating efficiency improve or worsen in the Current Year versus 1 Year Ago? Return on total assets