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 $ 27,954 Accounts receivable, net $ 31,724 56,073 $ 32,716 74,096 44,502 46,926 Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable 78,661 100,879 8,565 243,944 8,161 226,500 $ 396,554 $ 460,003 $ 114,541 Long-term notes payable Common stock, $10 par value Retained earnings 83,886 162,500 99,076 $ 67,688 90,295 Total liabilities and equity $ 460,003 $ 396,554 162,500 76,071 3,562 206,094 $ 333,800 $ 44,062 73,770 162,500 53,468 $ 333,800 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 $ 598,004 $ 364,782 185,381 10,166 7,774 $ 29,901 568,103 $ 1.84 1 Year Ago $ 471,899 $ 306,734 119,390 10,854 7,078 444,056 $ 27,843 $ 1.71 (1) Compute debt and equity ratio for the current year and one year ago. Current Year: 1 Year Ago: Current Year: 1 Year Ago: Numerator: Debt Ratio Denominator: Equity Ratio Numerator: Denominator: Debt Ratio = Debt ratio = % = % II II = = = Equity Ratio Equity ratio % %