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 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, 387 75,697 97,136 8,584 248,557 $ 456, 361 $ 31,788 $ 32,778 56,180 44,133 74,237 47,476 8,096 3,499 223, 114 196,714 $ 393, 415 $ 324,600 $110,225 $ 65,157 $ 43,276 86,654 162,500 96,982 $456, 361 92,295 70,302 162,500 162,500 73,463 48,522 $ 393, 415 $ 324,600 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 $593,269 $361,894 183,913 10,086 7,712 563, 605 $ 29,664 1 Yr Ago $ 468,164 $304, 307 118,445 10,768 7,022 440,542 $ 27,622 Earnings per share $ 1.83 $ 1.70 For both the Current Year and 1 Year Ago, compute the following ratios: (1) Debt and equity ratios. Choose Numerator: Debt Ratio 1 Choose Denominator: 1 Debt Ratio Debt ratio = = % Current Year: 1 Year Ago: 1 1 = % Choose Numerator: = Equity Ratio 1 Choose Denominator: 1 1 Equity Ratio Equity ratio Current Year: = % 1 Year Ago: 1 %