Saved 3 Simon Company's year-end balance sheets follow. 2017 2016 2015 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 $ 29,222 $ 34,158 $ 33,841 81,340 60,960 46,042 104,378 80,554 49,034 9,224 9,144 3,837 266,221 237,930 216,046 $490,385 $422,746 $ 348,800 $118,443 $ 72,873 $ 47,423 3:26 91,270 95,287 75,543 162,500 162,500 162,500 118,172 92,086 63,334 $490,385 $422,746 $ 348,800 - nces The company's income statements for the years ended December 31, 2017 and 2016, follow. The company's income statements for the years ended December 31, 2017 and 2016, follow. For Year Ended December 31 Sales Cost of goods sold Other operating expenses Interest expense Income taxes Total costs and expenses Net income Earnings per share 2017 $637,501 $388,876 197,625 10,838 8,288 605,627 $ 31,874 $ 1.96 2016 $ 503,068 $326,994 127,276 11,571 7,546 473, 387 $ 29,681 $ 1.83 Calculate the company's long-term risk and capital structure positions at the end of 2017 and 2016 by computing the following ratios (1) Debt and equity ratios. Debt Ratio Choose Numerator: 1 Choose Denominator: 11 Debt Ratio Debt ratio 2017: % 2016: 11 % Choose Numerator: Equity Ratio 1 Choose Denominator: = Equity Ratio Equity ratio % 2017: 2016: % (2) Debt-to-equity ratio. Debt-To-Equity Ratio 1 Choose Denominator: Choose Numerator: = 1 Debt-To-Equity Ratio Debt-to-equity ratio to 1 19 2017: 1 2016: 1 to 1 (3) Times interest earned. Times Interest Earned Choose Denominator: Choose Numerator: 11 Times Interest Earned Times interest earned times 2017: 1 11 2016: = times