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 $ 33,282 94,570 117, 715 19,823 296,652 $553,042 $ 38,141 $ 38,546 67,414 53,492 88,201 58,109 9,812 4,283 273,192 242,870 $ 476,760 $397,300 $136,330 $ 79,767 $ 53,492 103,972 162,500 150, 240 $553,042 111,848 89,559 162,500 162,500 122,645 91,749 $ 476,760 $ 397,300 The company's income statements for the Current Year and 1 Year Ago, follow. 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 $718,955 $438,563 222,876 12,222 9,346 683, 007 $ 35,948 $ 2.21 1 Yr Ago $ 567,344 $368,774 143,538 13,849 8,510 533,871 $ 33, 473 $ 2.06 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 90 Current Year: % 1 Year Ago