At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable Current Year 1 Year Ago $ 35,398 104,645 126,411 11,513 321,991 $ 599,958 115,048 163,500 175,008 $ 41,376 72,409 97,597 11,079 294,744 $ 517,205 $ 84,785 116,578 162,500 153,342 $ 146,402 Long-term notes payable Common stock, $10 par value Retained earnings Total liabilities and equity For both the current year and one year ago, compute the following ratios: $ 599,958 $ 517,205 2 Years Ago $ 43,976 58,054 62,452 4,789 270,529 $ 439,800 $ 56,312 98,168 163,500 121,820 $ 439,800 ces 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 (1) Debt and equity ratios. Current Year $ 475,766 241,783 13,25p 10,139 $ 779,945 740,947 $ 38,998 $ 2.40 1 Year Ago $ 400,058 155,715 14,156 9,232 $ 615,474 579,161 $ 36,313 $ 2.23 of 6 Book Hint Complete this question by entering your answers in the tabs below. Required 1 Required 2A Required 2B Required 3A Required 38 Compute debt and equity ratio for the current year and one year ago. Print erences Current Year: 1 Year Ago: Current Year: 1 Year Ago: Debt Ratio Numerator: Denominator: Debt Ratio Debt ratio % = % Equity Ratio Numerator: Denominator: / = Equity Ratio BO Equity ratio % = % Complete this question by entering your answers in the tabs below. Required 1 Required 2A Required 2B Required 3A Required 3B Compute debt-to-equity ratio for the current year and one year ago. Debt-To-Equity Ratio Current Year: 1 Year Ago: Numerator: 1 1 Denominator: = Debt-To-Equity Ratio = Debt-to-equity ratio to 1 to 1 Required 1 Required 2B > 16 ak 1 Complete this question by entering your answers in the tabs below. Required 1 Required 2A Required 28 Required 3A Required 3B Compute times interest earned for the current year and one year ago. Current Year: ces 1 Year Ago: Numerator: Times Interest Earned Denominator: Times Interest Earni Times interest eame, times times