Required information [The following information applies to the questions displayed below.] Simon Company's year-end balance sheets follow. At December 31 Assets Cash Current Year 1 Year Ago 2 Years Ago $ 34,800 $ 41,093 $ 43,679 Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets 99,832 131,989 11,092 324,154 72,639 97,907 58,821 63,277 11,114 296,098 $ 601,867 $ 518,851 4,756 270,667 $ 441,200 Liabilities and Equity Accounts payable Long-term notes payable $ 151,364 110,888 $ 85,055 $ 57,074 121,722 100,430 Common stock, $10 par value 162,500 162,500 162,500 Retained earnings 177,115 149,574 121,196 $ 441,200 Total liabilities and equity $ 601,867 $ 518,851 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 $ 477,280 242,552 13,301 10,172 $ 782,427 743,305 $ 39,122 $ 2.41 1 Year Ago $ 401,331 156,211 14,201 9,261 $ 617,433 581,004 $ 36,429 $ 2.24 (1) Compute debt and equity ratio for the current year and one year ago.