Simon Company's year-end balance sheets follow At December 31 Current Yr 1 Yr Ago 2 Yrs Ago $ 31,800 $ 35,625 $ 37,800 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity Accounts payable Long-term notes payable secured by mortgages on plant assets Common stock, $10 par value Retained earnings 89,500 62,500 50,200 112,500 82,500 54,000 10,700 9,375 5,000 278,500 255,000 230,500 $523,000 $445,000 $377,500 $129,900 $ 75,250 $ 51,250 98,500 101,500 83,500 163,500 163,500 163,500 131,100 104,750 79,250 Total liabilities and equity $523,000 $445,000 $377,500 The company's income statements for the current year and 1 year ago, follow For Year Ended December 31 Sales 1 Yr Ago $ 532,000 Current Yr $673,500 Cost of goods sold. $411,225 $345,500 Other operating expenses 209,550 134,980 Interest expense 12,100 13,300 Income tax expense 9,525 8,845 Total costs and expenses 642,400 Net income $ 31,100 502,625 $ 29,375 Earnings per share $ 1.90 1.80 For both the Current Year and 1 Year Ago, compute the following ratios: (1) Debt and equity ratios. Debt Ratio Choose Numerator: Choose Denominator: Debt Ratio Total liabilities Current Year: Debt ratio 0 1 Year Ago: 0 % Equity Ratio Choose Numerator: Choose Denominator: Equity Ratio = Equity ratio Current Year: 1 Year Ago: 0% 0 %