Simon Company's year-end balance sheets follow. Current Y 1 Yr Ago 2 Yrs Ago 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 secured by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity $ 31,800 89,500 112,500 10,789 278,500 $523,000 $ 35,625 $ 37,880 62,500 50,200 82,500 54,000 9,375 5,800 255,000 230,500 $445,000 $ 377,500 $129,900 $ 75,250 $ 51,258 98,500 101,500 83,500 163,590 163,500 163,500 131 100 104,750 79, 250 $ 523,000 $445,000 $ 377,580 The company's income statements for the current year and 1 year ago, follow. For Year Ended December 31 Sales cost of goods sold Other operating expenses Interest expense Income tax expense Current Ye $673,500 $411, 225 209 SS 12, 100 525 1 Yr Ago $ 532,000 $ 345,500 184,980 13,300 8,845 Nav The company's income statements for the current year and 1 year ago, follow. Far Year Ended December 31 Sales Cost of goods sold Other operating expenses Interest expense Income tax expense Total costs and expenses Net income current Ye $673,500 $411,225 209,550 12,180 9,525 642,400 $ 31,100 1 yr ARO $532,000 $345,500 134,989 13,389 8,845 582,625 $ 29,375 Earnings per share $ 1.99 $ 1.80 For both the Current Year and 1 Year Ago, compute the following ratios: (1) Debt and equity ratios. Debt Ratio Choose Numerators Choose Denominaton Debt Ratio Debt ratio Current Year! Prey 10 of 20 Next > 2 (1) Debt and equity ratios. Debt Ratio Choose Numerator Choose Denominator: Debt Ratio 7 Debt ratio 1 Current Year: 1 Year Ago: Equity Ratio Choose Numerator: Choose Denominator: Equity Ratio Equity ratio Current Year: 1 Year Ago