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At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Current Year 1 Year Ago 2 Years
At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Current Year 1 Year Ago 2 Years Ago Liabilities and Equity Accounts payable Long-term notes payable $ 117,434 89,570 Common stock, $10 par value 162,500 Retained earnings 111,743 9,418 258,353 $ 481,247 75,983 8,625 241,727 $414,868 3,690 209,395 $ 342,300 $ 44,280 76,405 162,500 59,115 $ 28,961 83,116 $ 32,194 $ 33,549 56,339 46,087 101,399 49,579 $ 71,515 94,465 162,500 86,388 Total liabilities and equity $ 481,247 $414,868 $ 342,300 The company's income statements for the current year and one year ago, follow. For Year Ended December 31 Sales Cost of goods sold 1 Year Ago Current Year $ 625,621 $ 381,629 193,943 10,636 $ 320,900 124,904 11,355 8,133 7,405 594,341 $ 31,280 $ 1.92 $ 493,693 Other operating expenses Interest expense Income tax expense Total costs and expenses Net income Earnings per share For both the current year and one year ago, compute the following ratios: 464,564 $ 29,129 $ 1.79 (1) Compute debt and equity ratio for the current year and one year ago. Current Year: 1 Year Ago: Current Year: 1 Year Ago: Numerator: Debt Ratio Denominator: Debt Ratio Debt ratio % % Equity Ratio Numerator: Denominator: Equity Ratio: Equity ration % %
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