Retur Simon Company's year-end balance sheets follow. Current Yr 1 Yr Ago 2 Yrs Ago Part 1 of 3 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 $ 32,070 93,860 118,012 10, 226 278,736 $532,904 $ 36,017 $ 37,900 65, 602 51,555 82,43953, 264 9,454 4,339 265, 888 239,642 $ 459,400 $ 386,700 2.14 points $134,020 $ 76,086 $ 50,024 101,188 162,500 135, 196 $532,904 103,549 84, 606 162,500 162,500 117,265 89,570 $ 459, 400 $ 386,700 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 $692,775 $ 422,593 214,760 11,777 9,006 658,136 $ 34,639 $ 2.13 1 Yr Ago $546,686 $355, 346 312 12,574 8,200 514,432 $ 32,254 $ 1.98 For both the Current Year and 1 Year Ago, compute the following ratios: Earnings per share $ 2.13 $ 1.98 For both the Current Year and 1 Year Ago, compute the following ratios: Part 1 of 3 (1) Debt and equity ratios. 2.14 points & Answer is complete but not entirely correct. Debt Ratio Choose Denominator: = Debt Ratio Total assets Choose Numerator: Total liabilities $ 370,404 X 1 $ 296,900 $ 1 Current Year: 1 Year Ago: $ $ Equity Ratio 532,904 459,400 = = Debt ratio 69.5 64.6 % % Choose Denominator: Total assets Choose Numerator: Total equity 162,500 X $ 162,500 $I Equity Ratio Equity ratio 30.5 35.4 Current Year: 532,904 % % 1 Year Ago: $ 459,400 =