Question
Simon Company's year-end balance sheets follow. At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities
Simon Company's year-end balance sheets follow. 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 Common stock, $10 par value Retained earnings Total liabilities and equity Current Year 1 Year Ago 2 Years Ago $ 30,146 83,912 $ 34,889 $ 37,070 61,667 49,911 107,679 9,612 274,544 $ 505,893 82,295 9,158 248,106 $ 436,115 $ 129,746 $ 73,703 93,206 162,500 120,441 97,297 162,500 102,615 $ 505,893 $ 436,115 53,171 3,957 222,991 $ 367,100 $ 47,973 78,695 162,500 77,932 $ 367,100 The company's income statements for the current year and one year ago, follow. For Year Ended December 311 Sales Cost of goods sold Interest expense Other operating expenses Income tax expense Total costs and expenses Net income Earnings per share Current Year $ 401,173 -203,875 $ 657,661 11,180 8,550 624,778 $ 32,883 $ 2.02 1 Year Ago. $ 518,977 $ 337,335 131,301 11,936 7,785 488,357 $ 30,620 $ 1.88 (1) Compute debt and equity ratio for the current un
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