8 Required information [The following information applies to the questions displayed below.] Simon Company's year-end balance sheets follow. Part 1 of 3 Current Yr 1 Yr Ago 2 Yrs Ago 2.14 points 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 secured by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity $ 27,946 80,995 103,873 8,999 251,842 $473,655 $ 33,319 $ 33,687 56,022 43, 137 76,295 47, 361 8,661 3,780 234,026 208,935 $ 408,323 $336,900 Skipped $117,940 $ 68,317 $ 45,805 eBook 86,376 162,500 106,839 $473,655 92,975 73, 710 162,500 162,500 84,531 54,885 $ 408,323 $ 336,900 Hint The company's income statements for the Current Year and 1 Year Ago, follow. Print 1 Yr Ago $ 485,904 Rellences 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 References Current Yr $615,752 $375, 609 190,883 10,468 8, 005 584,965 $ 30,787 $315,838 122,934 11,176 7,289 457, 237 $ 28,667 $ 1.89 $ 1.76 For both the Current Year and 1 Year Ago, compute the following ratios: (1) Debt and equity ratios. Debt Ratio 1 Choose Denominator: Choose Numerator: II Debt Ratio Debt ratio II 11 % Current Year: 1 Year Ago: % Choose Numerator: Equity Ratio 1 Choose Denominator: 1 Il Equity Ratio Equity ratio Il 1 II % Current Year: 1 Year Ago: %