! Required information [The following information applies to the questions displayed below.] Simon Company's year-end balance sheets follow. At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable $ 420,980 $ 104,824 Long-term notes payable Common stock, $10 par value Retained earnings Total liabilities and equity Current Year 1 Year Ago 2 Years Ago $ 29,614 51,316 $ 24,838 70,548 88,700 8,159 228,735 78,353 67,139 7,697 207,148 $ 362,914 162,500 75,303 $ 61,946 83,470 162,500 54,998 $ 420,980 $ 362,914 $ 30,551 39,920 44,698 3,429 190,002 $ 308,600 $ 39,920 68,883 162,500 37,297 $ 308,600 The company's income statements for the current year and one 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 Year $ 547,274 $ 333,837 169,655 9,304 7,115 1 Year Ago $ 431,868 $ 27,363 $ 1.68 $ 280,714 109,263 9,933 6,478 406,388 $ 25,480 $ 1.57 519,911 (1) Compute debt and equity ratio for the current year and one year ago. Current Year: 1 Year Ago: Current Year: 1 Year Ago: Debt Ratio Numerator: Denominator: Debt Ratio = Debt ratio = % % Equity Ratio Numerator: Denominator: = Equity Ratio = Equity ratio = % = %