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 $ 31,492 90,371 115,897 10,242 280,482 $528,484 $ 36,447 $ 35,762 64,420 48,655 84,284 51,818 9,7593 ,933 260,680 228,432 $ 455,598 $ 368,600 $135,540 $ 76,225 $ 48,655 101,342 162,500 129,102 $528,484 102,692 81,461 162,50 162,500 114,175 75,984 $ 455,590 $ 368,600 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 $687,029 $419,888 212,979 11,679 8,931 652,677 $ 34,352 1 Yr Ago $ 542,152 $352,399 137,164 12,469 8,132 510,164 $ 31,988 $ 1.97 $ 2.11 For both the Current Year and 1 Year Ago, compute the following ratios: (1) Debt and equity ratios. Debt Ratio 7 / Choose Numerator: Total liabilities = Choose Denominator: Total assets Debt Ratio Debt ratio Current Year: 1 Year Ago: Choose Numerator: Total equity Equity Ratio 1 / Choose Denominator: Total assets = Equity Ratio Equity ratio Current Year: 1 Year Ago: (2) Debt-to-equity ratio. Debt-To-Equity Ratio Choose Numerator: 7 Choose Denominator: = Debt-To-Equity Ratio Debt-to-equity ratio 0 to 1 0 to 1 Current Year: 1 Year Ago