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-ters notes payable secured by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity $ 31,311 86,301 115,218 10,883 277, 377 $520,290 $ 34,806 $ 38,136 62,166 50, 345 84,637 53,076 9,231 4,111 257,686 235,732 $ 448,526 $ 381,400 $130,848 $ 75,043 $ 49,338 95,858 162,500 131,084 $520,290 103,161 82,604 162,500 162,500 107,822 86,958 $ 448,526 $ 381,400 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 $676,377 $412,590 209,677 11,498 8793 642,558 $ 33,819 $ 2.08 1 Yr Ago $ 533, 746 $346,935 135,038 12,276 8,006 502,255 $31,491 $ 1.94 Exercise 13-9 Part 1 (1) Debt and equity ratios. Debt Ratio Choose Numerator: Choose Denominator: Debt Ratio Debt ratio Current Year: 11 1 Year Ago: Equity Ratio 1 Choose Numerator: Choose Denominator: / = Equity Ratio Equity ratio Current Year: 1 Year Ago: % Exercise 13-9 Part 2 (2) Debt-to-equity ratio. Debt-To-Equity Ratio Choose Numerator: Choose Denominator: Current Year: Debt-To-Equity Ratio Debt-to-equity ratio to 1 11 1 Year Ago: 1 to 1