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 $ 34,465 102,980 126,888 11,557 326,331 $602,221 42,363 $ 42,398 71,955 58,838 93,163 61,433 11, 229 4,711 300, 446 269,620 $ 519,156 $ 437,000 $154,452 $ 87,737 5 58,838 112,085 162,500 173, 184 $602,221 3152 117,018 93,689 162,500 162,500 151,901 121,982 $ 519,156 $437,000 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 $ 782,887 $ 477,561 242,695 13,309 10,278 743,743 $ 39,144 1 Yr Ago $ 617,796 $401,567 156, 302 14, 209 9,267 581,345 $36,451 $ 2.24 2.41 (1) Debt and equity ratios. Debt Ratio Debt Ratio Choose Numerator: Net sales $ Current Year: 36 Choose Denominator: Net sales $ 782.887) = $ 617.796 = 39,144 36,451 Equity Ratio 1 Year Ago: Debt ratio 5.0 % 59 Choose Numerator: Choose Denominator: Current Year: Equity Ratio Equity ratio 0 % 1 Year Ago: 0 %