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Return to question 5 Required information [The following information applies to the questions displayed below. Simon Company's year-end balance sheets follow. Part 4 of 6 0.42 points 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 Common stock, $10 par value Retained earnings Total liabilities and equity Current Year 1 Year Ago 2 Years Ago 1 $ 34,960 $ 41,674 $ 41,316 103, 332 72,930 53,452 128,658 93,565 56,914 10,924 10,621 4,545 308,804 286,967 256,973 $ 586,678 $ 505,757 $ 413,200 $ 146,083 110,295 162,500 167,800 $ 586,678 $ 82,909 118,651 162,500 141,697 $ 505,757 $ 55,633 92,230 162,500 102,837 $ 413, 200 For both the current year and one year ago, compute the following ratios: The company's income statements for the current year and one year ago, follow. 1 Year Ago $ 601,851 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 Year $ 762,681 $ 465, 235 236,431 12,966 9,915 724,547 $ 38, 134 $ 2.35 $ 391,203 152,268 13,843 9,028 566,342 $ 35, 509 $ 2.19 X Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required 1 Required 2A Required 2B Required 3A Required 3B Required 3B Compute debt and equity ratio for the current year and one year ago. Debt Ratio Numerator: Denominator: Debt Ratio Total liabilities Total assets II Debt ratio 264,378 X 1 546,218 x = 48.4 % Current Year: 1 Year Ago: $ 201,560 1 459,483 X Il 43.9 % Equity Ratio Numerator: Denominator: Equity Ratio Equity ratio Total equity Total assets