5 Required Information [The following information applies to the questions displayed below.] Simon Company's year-end balance sheets follow. Part 1 of 3 Current Year 1 Year Ago 2 Years Ago 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 Common stock, $10 par value Retained earnings Total liabilities and equity $ 27,962 80,223 192,924 9,187 258, 420 $ 478,716 $ 33,345 57,776 74,820 8,840 237,995 $ 412,686 $ 34,847 45,395 49,318 3,798 208,32 $ 340, 500 $ 120,392 89,899 162,500 106,725 $ 478,716 $ 71,836 94,918 162,50e 83,432 $ 412,686 $ 45,845 76,756 162,500 55, 399 $ 340,5ee The company's income statements for the current year and one 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 Year $ 622,331 $ 379,622 192,923 10,580 8,899 591,215 $ 31, 116 $1.91 1 Year Ago $ 491,896 $ 319,212 124, 247 11,295 7,366 462,120 $ 28,976 $ 1.78 For both the current year and one year ago. compute the following ratios: (1) Compute debt and equity ratio for the current year and one year ago. Debt Ratio Numerator: Denominator: 1 = Debt Ratio Debt ratio % Current Year: 1 Year Ago: = % Equity Ratio Numerator: 1 Denominator: Equity Ratio Equity ratio 1 1 %6 Current Year: 1 Year Ago: = %6