[The following information applies to the questions displayed below.) 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 $ 27,159 77,944 99,940 8,489 237,768 $451,300 $ 31,124 $ 31,779 55,012 43,219 73,414 46,038 8,007 3,566 221,495 196, 398 $ 389,052 $ 321,000 $112,374 $ 65,750 $ 41,525 87,390 162,500 89,036 $451,300 88,587 71,650 162,500 162,500 72,215 45, 325 $ 389,052 $ 321,000 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 $586,690 $357,881 181,874 9,974 7,627 557,356 $ 29,334 $ 1.81 1 Yr Ago $ 462,972 $300,932 117,132 10,648 6,945 435,657 $ 27,315 $ 1.68 For both the Current Year and 1 Year Ago, compute the following ratios: Exercise 13-9 Part 2 (2) Debt-to-equity ratio. Answer is complete but not entirely correct. Debt-To-Equity Ratio Choose Debt-To-Equity Numerator: Choose Denominator: Ratio Total liabilities Total equity Debt-to-equity ratio $ 87,390 + $ 251,536 0.35 to 1 88,587 234,715 0.38 to 1 Current Year: 1 Year Ago