Required information [The following information applies to the questions displayed below) Simon Company's year-end balance sheets follow. At December 31 current Yel Yengo YA Assets Cash $ 31,900 $35,625 $ 37.000 Accounts receivable, net 89.500 62.500 50,200 Merchandise inventory 112,500 12.500 54,000 Prepaid expenses 10,700 3,375 5,000 Plantas, bet 278,500 255,000 230.500 Total assets 5523,000 $445,000 $377,500 Liabilities and Equity Accounts payable $129,900 $ 75,250 $ 51,250 Long-tern notes payable secured by mortgages on plant annet 78,500 101.500 63,500 Con stock, 110 par value 16),500 163,500 163,300 Metained earnings 132.100 104,250 79.250 Total liabilities and equity 5523,000 $445,000 $277.500 The company's Income statements for the current year and 1 year ago, follow. 1 yr ago $532,000 For Year Ended December 31 Sales Cost of goods sold Other operating expenses Interest expense Income tax expense Total costs and expenses Net Incon Taringe per share Current TE 5673,500 5411,225 209,530 12,100 5.535 642.400 5 31.100 $345.500 134.990 13,300 9.145 502,635 $ 29.375 1.90 1.00 For both the Current Year and 1 Year Ago. compute the following ratios: (1) Debt and equity ratios Debt Ratio Choose Numerator Totales Debat Current Year: 1 Year Ago: Detallo 1 Choose Denominator Total $ 523,000 1 5 445,000 Equity Ratio Choose Denominator 1 Totalsts Choose Numerator Equity Rutie Current Year Equity rate 0 ol 1 Year Age