Required Information [The following Information applies to the questions displayed below.] Simon Company's year-end balance sheets follow. At December 31 Assets Current Year 1 Year Ago 2 Years Ago Cash Accounts receivable, net $ 30,376 89,800 $ 35,152 $ 35,529 62,137 108,478 80,467 Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity 9,880 276,313 9,227 256,851 $ 514,847 $ 443,834 Accounts payable $ 129,479 Long-term notes payable Common stock, $10 par value Retained earnings Total liabilities and equity 98,727 162,500 124,141 $ 74,258 104, 123 162,500 102,953 $ 514,847 $ 443,834 47,855 52,000 3,948 226,868 $ 366,200 $ 47,855 81,740 162,500 74,105 $ 366,200 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 $669,301 S 408,274 207.483 11.38 8.701 635,836 3.465 $2.86 1 Year Ago $ 528,162 $ 343,305 133,625 12,148 7,922 497,000 $ 31,162 $1.92 (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 96