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 $ 31,050 92,720 116,577 9,898 281,344 $531,589 $ 35,561 $ 36, 324 64,799 48,927 86,475 52, 102 9,816 4,036 261,615 233, 011 $ 458,266 $ 374,400 $133,689 $ 78,221 $ 48,927 102,937 162,500 132,463 $531,589 102,239 81,088 162,500 162,500 115,306 81,885 $ 458,266 $ 374,400 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 $691,066 $421,550 214,230 11,748 8,984 656,512 $ 34,554 $ 2.13 1 Yr Ago $ 545,337 $354,469 137,970 12,543 8,180 513, 162 $ 32,175 $ 1.98 Return to question For both the Current Year and 1 Year Ago, compute the following ratios: (1) Debt and equity ratios. Answer is not complete. Choose Numerator: Total liabilities Debt Ratio Choose Denominator: Total assets Debt Ratio Debt ratio Current Year: 1 Year Ago: Choose Numerator: Total equity Equity Ratio Choose Denominator: Total assets Equity Ratio Equity ratio 0 % Current Year: 1 Year Ago: 0 %