55,594 59,806 4,587 256,143 Simon Company's year-end balance sheets follow. At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Current Year 1 Year Ago 2 Years Ago $ 35,631 103,269 124,750 11,474 316,949 $ 39,608 $ 40,870 71,457 92,537 10,933 295,873 $ 592,073 $ 510,408 Accounts payable $ 147,426 $ 85,396 Long-term notes payable Common stock, $10 par value Retained earnings 109,084 162,500 173,063 115,046 162,500 147,466 Total liabilities and equity $ 592,073 $ 510,408 $ 417,000 $ 56,145 94,922 162,500 103,433 $ 417,000 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 Farninne nor chara Current Year $ 469,514 238,605 13,085 10,006 $ 769,695 1 Year Ago $ 607,386 731,210 $ 38,485 $ 2.37 $ 394,801 153,669 13,970 9,111 571,551 $ 35,835 $ 2.21 For both the current year and one year ago, compute the following ratios: (2) Compute debt-to-equity ratio for the current year and one year ago. Debt-To-Equity Ratio Current Year: 1 Year Ago: Numerator: 1 I 1 Denominator: =1 Debt-To-Equity Ratio Debt-to-equity ratio = to 1 to 1