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 Common stock, $10 par value Retained earnings Total liabilities and equity $ 33,543 93,442 118,672 10, 802 295,505 $551,964 $ 37,686 $ 38,479 64,618 52,341 87,148 55,192 9,793 4,448 276,586 242, 140 $ 475,831 $ 392,600 $138,813 102,732 162,500 147,919 $551,964 $ 82,024 $ 50,787 107,252 85,897 162,500 162,500 124,055 93,416 $ 475,831 $ 392,600 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 Yr $ 717,553 $437,707 222,441 12,198 9,328 681,674 $ 35,879 1 Yr Ago $ 566,239 $368,055 143, 258 13,023 8,494 532,830 $ 33,409 $ 2.21 $ 2.06 For both the current year and one year ago, compute the following ratios: (1) Debt and equity ratios. Debt Ratio Choose Numerator: Choose Denominator: 1 1 Debt Ratio Debt ratio 1 Current Year: 1 Year Ago: % 1 Equity Ratio 1 1 Choose Numerator: Choose Denominator: Equity Ratio Equity ratio 1 Current Year: 1 Year Ago: = %