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 $ 28,577 78,885 100,093 8,845 253, 931 $470, 251 $ 33,880 $ 33, 772 55,619 43, 281 74,997 47,030 8,598 3,716 233, 095 283, 401 $ 485,389 $ 331,200 $117,092 $ 69, 881 $ 43, 718 86,639 162,500 184,020 $479,251 92,307 72,463 162,500 162,580 52,519 $ 485,389 $ 331,200 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 $611, 326 $372,909 189,511 10,393 7.947 580, 760 $ 30,566 1 Yr Ago $ 482,413 $313, 568 122,950 11,095 7.236 453,949 $ 28, 404 For both the Current Year and 1 Year Ago, compute the following ratios: (1) Debt and equity ratios. Debt Ratio Choose Numerator: Choose Denominator: = Debt Ratio Debt ratio Current Year: 1 Year Ago: Equity Ratio Choose Numerator: Choose Denominator: - Equity Ratio Equity ratio Current Year: 1 Year Ago