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 $ 30,183 91,990 111,124 10,021 284,085 $527,403 $ 35,281 $ 38,669 64,925 51,559 82,429 53,801 9,739 4,211 262,284 242,360 $ 454,658 $ 390,600 $128, 697 $ 75,300 $ 52,590 98,160 162,500 138,046 $527.403 $ 107,708 86, 323 162,500 162,500 109, 150 89, 187 $ 454,658 $ 390,600 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 $685,624 $418,231 212,543 11,656 8,913 651,343 $ 34,281 $ 2.11 1 Yr Ago $ 541,043 $351,678 136,884 12,444 8,116 509,122 $ 31,921 $ 1.96 For both the Current Year and 1 Year Ago, compute the following ratios: (1) Debt and equity ratios. Choose Numerator: Total liabilities = Debt Ratio Debt ratio 43.1 % 23.7 % Current Year: $ 1 Year Ago: $ Debt Ratio 1 Choose Denominator: / Total assets 227,457 / $ 527,403 = 107.708 / $ 454,658 = Equity Ratio 1 Choose Denominator: / Total assets 98,160 / $ 271,650] = 222 / $ 1.1111 = Choose Numerator: Total equity = Equity Ratio Equity ratio 36.1 % $ Current Year: : 1 Year Ago: $ 20.0 %