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 $ 35,891 99,943 129,506 11,331 319,720 $596,391 $ 40,719 $ 41,576 72,698 56,554 96,065 59,032 10,473 4,526 294,175 262,512 $ 514,130 $ 424,200 $ 151, 471 $ 85,150 $ 55,434 113,243 162,500 169, 177 $596, 391 120,615 94,686 162,500 162,500 145,865 111,580 $ 514,130 $ 424,200 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 $775, 308 $472,938 240, 345 13, 180 10,079 736,542 $ 38,766 $ 2.39 1 Yr Ago $611,815 $397,680 154,789 14,072 9, 177 575, 718 $ 36,097 $ 2.22 For both the Current Year and 1 Year Ago, compute the following ratios: Exercise 13-9 Part 1 (1) Debt and equity ratios. Debt Ratio 1 Choose Denominator: Choose Numerator: Debt Ratio Debt ratio Current Year: % 1 Year Ago: = % Ratio Choose Numerator: 1 Choose Denominator: Equity Ratio Equity ratio = Current Year: 1 = % 1 Year Ago: / = %