Simon Company's year-end balance sheets follow. Current yr 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 $ 36,073 104,549 135,475 11,498 336,283 $623,878 $ 42,166 $ 43,066 74,543 58,001 100,493 62,395 11,068 4,833 309,556 271,105 $ 537,826 $ 439,400 $150,685 $ 89,075 $ 56,841 117,289 162,500 193,404 $623,878 122,463 95,165 162,500 162,500 163,788 124,894 $ 537,826 $ 439, 400 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 Total costs and expenses Net income Earnings per share Current Yr $811,041 $494,735 251,423 13,788 10,544 770, 490 $ 40,551 $ 2.50 1 Yr Ago $ 640,013 $416,008 161,923 14,720 9,600 602,251 $ 37,762 $ 2.32 For both the Current Year and 1 Year Ago, compute the following ratios: (1) Debt and equity ratios. Debt Ratio I Choose Denominator: Choose Numerator: = ! Debt Ratio Debt ratio Current Year: 1 Year Ago: Equity Ratio 7 Choose Denominator: Choose Numerator: = Equity Ratio Equity ratio Current Year: 1 Year Ago