Simon Company's year-end balance sheets follow. At December 31 2017 2016 2015 Assets $31,858 $ 38,356 Cash 38,026 51,204 52,383 4,225 Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net 94,181 63,213 86,115 9,873 267,930 118,414 9,952 285,560 234,462 $539,965 $465,487 $380,300 Total assets Liabilities and Equity Accounts payable Long-term notes payable secured by mortgages on plant assets Common stock, $10 par value Retained earnings $ 77,881 $133,107 $ 48,694 101,513 81,525 162,500 105,991 162,500 119,115 162,500 142,845 87,581 Total liabilities and equity $539,965 $465,487 $380,300 The company's income statements for the years ended December 31, 2017 and 2016, follow. For Year Ended December 31 2017 2016 Sales $701,955 553,930 Cost of goods sold Other operating expenses Interest expense $428,193 $360,055 140,144 12,740 217,606 11,933 9,125 Income taxes 8,309 Total costs and expenses 666,857 521,248 35,098 $ 32,682 Net income 2.01 Earnings per share 2.16 (1) Debt and equity ratios. Debt Ratio IChoose Denominator: Choose Numerator: Debt Ratio Debt ratio = 2017: % = 2016: % Equity Ratio /Choose Denominator: Choose Numerator: Equity Ratio Equity ratio 2017 / 2016 % Il Il II (2) Debt-to-equity ratio. Debt-To-Equity Ratio Debt-To-Equity Ratio Choose Numerator: Choose Denominator: / Debt-to-equity ratio 2017 to 1 2016: to 1 Il (3) Times interest earned. Times Interest Earned Choose Numerator: Choose Denominator: Times Interest Earned Times interest earned = times 2017 2016: times