Simon Company$$s 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 company$$s 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 $ $2\mathrm{.}00$ $ $1\mathrm{.}86$

Exercise $13-9($Algo$)$ Part $1[$Alternate Version$]$

$(1)$ Compute debt and equity ratio for the current year and one year ago.