Required information [The following information applies to the questions displayed below.) Simon Company's year-end balance sheets follow. Current Yr 1 yr Ago 2 Yrs Ago At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net $ 28,233 81,826 102,881 9,370 265,973 $ 33,675 $ 35,067 57,252 46,303 77,873 48,345 8,840 3.821 242,794 210,364 $ 420,934 $ 343, 900 $488,283 Total assets $122,798 $ 72,561 $ 45,849 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 89,961 162,500 113,024 $488,283 95,847 76,002 162,500 162,500 90,026 59,549 $ 420,934 $ 343,900 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 Current Yr $634,768 $387,208 196,778 10,791 8,252 603,029 $ 31,739 1 Yr Ago $500,911 $325,592 126,730 11,521 7,514 471,357 $ 29,554 $ 1.82 $ 1.95 Earnings per share Current YE $634, 768 For Year Ended December 31 Sales Cost of goods sold Other operating expenses Interest expense Income tax expense Total costs and expenses Net income $387,208 196,778 10,791 8.252 1 Yr Ago $ 500,911 $325,592 126,730 11,521 7,514 471,357 $ 29,554 603,029 $ 31,739 1.95 Earnings per share 1.82 $ For both the Current Year and 1 Year Ago, compute the following ratios: (1) Debt and equity ratios. Debt Ratio Debt Ratio Choose Numerator: Choose Denominator: 1 Debt ratio Total liabilities / Total assets Current Year: 0 % 0 % 1 Year Ago: Equity Ratio Choose Denominator: Equity Ratio Choose Numerator: MN / Total assets Equity ratio Total equity 0 % 0 % Current Year: 1 Year Ago