Simon Company's year-end balance sheets follow. At December 31 Assets Current Year 1 Year Ago 2 Years Ago Cash $ 31,800 Accounts receivable, net 89,500 $ 35,625 62,500 Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable Long-term notes payable Common stock, $10 par value Retained earnings Total liabilities and equity 112,500 10,700 278,500 $ 523,000 $ 129,900 98,500 163,500 131,100 $ 523,000 82,500 9,375 255,000 $ 445,000 $ 75,250 101,500 163,500 104,750 $445,000 $ 37,800 50,200 54,000 5,000 230,500 $ 377.500 $ 51,250 83 500 163 500 79,250 $ 377,500 The company's income statements for the current year and one year ago, follow For Year Ended December 31 Sales Cost of goods sold Current Year $ 673,500 $411,225 Other operating expenses 209,550 Interest expense 12,100 Income tax expense 9,525 Total costs and expenses 642,400 1 Year Ago $ 345,500 134.980 13.300 18,845 $532,000 502,625 Required information Interest expense 12,100 Income tax expense 9,525 Total costs and expenses Net income Earnings per share 13,300 8,845 642,400 $ 31,100 $ 1.90 502,625 $ 29,375 $1.80 (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? Complete this question by entering your answers in the tabs below. Required 2A Required 28 Compute debt-to-equity ratio for the current year and one year ago. Numerator: Debt-To-Equity Ratio Denominator: Debt To-Equity Ratio Required 2A Required 2B Compute debt-to-equity ratio for the current year and one year ago. Debt-To-Equity Ratio Current Year: 1 Year Ago: Numerator: 7 Denominator: Debt-To-Equity Ratio Debt-to-equity ratio to 1 to 1 Complete this question by entering your answers in the tabs below. Required 2A Required 2B Based on debt-to-equity ratio, does the company have more or less debt in the current year versus one year ago? Based on debt-to-equity ratio, the company has debt in the current year versus one year ago