Current Yr 1 Yr Ago 2 Yrs 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 secured by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity $ 33,705 95,735 125,281 10,746 305,810 $571,277 $ 38,216 70,326 93,842 10,342 279,754 $ 492,480 $ 40,630 53,631 57,694 4,514 253,931 $ 410,400 $142,248 $ 85,726 $ 53,089 107,400 162,500 159,129 $571,277 115,536 87,977 162,500 162,500 128,718 106,834 $ 492,480 $ 410,400 The company's income statements for the Current Year and 1 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 Yr $742,660 $453,023 230,225 12,625 9,655 705,528 $ 37,132 $ 2.29 1 Yr Ago $ 586,051 $380,933 148,271 13,479 8,791 551,474 $ 34,577 $ 2.13 For both the Current Year and 1 Year Ago, compute the following ratios: (1) Debt and equity ratios. Debt Ratio 1 Choose Numerator: Choose Denominator: = Debt Ratio Debt ratio L Current Year: L 1 Year Ago: Equity Ratio Choose Numerator: 1 Choose Denominator: = Equity Ratio Equity ratio Current Year: 1 Year Ago