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Simon Company s year - end balance sheets follow. At December 3 1 Current Year 1 Year Ago 2 Years Ago Assets Cash $ 2

Simon Companys year-end balance sheets follow.
At December 31 Current Year 1 Year Ago 2 Years Ago
Assets
Cash $ 28,840 $ 35,431 $ 35,126
Accounts receivable, net 86,99960,19946,835
Merchandise inventory 109,38581,13950,383
Prepaid expenses 9,5728,8493,826
Plant assets, net 263,994244,373215,130
Total assets $ 498,790 $ 429,991 $ 351,300
Liabilities and Equity
Accounts payable $ 126,683 $ 71,942 $ 47,763
Long-term notes payable 94,71096,92076,085
Common stock, $10 par value 162,500162,500162,500
Retained earnings 114,89798,62964,952
Total liabilities and equity $ 498,790 $ 429,991 $ 351,300
The companys income statements for the current year and one year ago, follow.
For Year Ended December 31 Current Year 1 Year Ago
Sales $ 648,427 $ 511,689
Cost of goods sold $ 395,540 $ 332,598
Other operating expenses 201,012129,457
Interest expense 11,02311,769
Income tax expense 8,4307,675
Total costs and expenses 616,005481,499
Net income $ 32,422 $ 30,190
Earnings per share $ 2.00 $ 1.86
Exercise 13-9(Algo) Part 2[Alternate Version]
(2-a) Compute debt-to-equity ratio for the current year and one year ago.
(2-b) Based on debt-to-equity ratio, does the company have more or less debt in the current year versus one year ago?Compute debt-to-equity ratio for the current year and one year ago.
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