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 $ 26,558 75,449 93,904 8,299 241,467 $445,677 $ 30,429 $ 32,324 53, 251 41,426 68,945 43,664 8,310 3,452 223,269 196,134 $ 384,204 $ 317,000 $109,864 $ 64,930 $ 42,681 86,301 162,500 87,012 $445,677 89,251 70,057 162,500 162,500 67,523 41,762 $ 384,204 $ 317,000 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 $579, 380 $353, 422 1-79,60B 9,849 7,532 550,411 $ 28,969 $ 1.78 1 Yr Ago $ 457,203 $297,182 115,672 10,516 6,858 430, 228 $ 26,975 $ 1.66 For both the current Year and 1 Year Ago, compute the followingtratios: Exercise 13-9 Part 2 (2) Debt-to-equity ratio. Debt-To-Equity Ratio Choose Numerator: Choose Denominator: = Debt-To-Equity Ratio Debt-to-equity ratio 0 to 1 0 to 1 Current Year: 1 Year Ago: 7 Next