2 Years Ago Required information The following information applies to the questions displayed below) Simon Company's year-end balance sheets follow, At December 31 current rear 1 Year Ago Assets Cash 36,295 $ 44,140 Accounts receivable, net 106,258 70.495 Merchandise Inventory 130,927 100,00 Prepaid expenses 12.045 11.137 plant assets, net 303,01 Total assets 5.621.10 5 535,600 Liabilities and Equity Accounts payable $ 153,179 $18,719 Long-ters notes payable 119,158 121,974 Comon stock, 510 par value 162,500 162.500 Retained tannings 186 552 162.487 Total abilities and equity 5.621,309 5 535.600 $ 45,077 59,514 62,121 5.009 276.679 5446,400 5 59,514 101,614 162,500 122,292 5446,400 The company's income statements for the current yealand one year ago, follow. For Year Ended December 31 current rear 1 Year A Sales $ 307,000 5.637,459 Cost of goods sold 5492,762 5414.343 Other operating expenses 250,420 161,272 Interest expense 13,733 14,662 Income tax expense 10.501 Total costs and expenses 767,410 599,040 Net Income 5.40,390 5 37.610 Earnings per share $ 2.49 52:31 (1) Compute debt and equity ratio for the current year and one year ago Debt Ratio Numerator: Denominator: Debt Ratio Debt ratio / % Current Year: 1 Year Ago: 1 % Equity Ratio Numerator: Denominator Equity Ratio Equity ratio Current Year: % 1 Year Ago