[The following information applies to the questions displayed below.] Simon Company's year-end balance sheets follow. At December 31 Current Year 1 Year Ago 2 Years Ago Assets Cash $33,948 $ 39,277 $ 42,610 Accounts receivable, net 98,392 71,570 57,949 Merchandise inventory 124,97 92,701 $1,728 Prepaid expenses 11,379 10,842 4,734 Plant assets, net 318,444 291,760 263,379 Total assets $ 587,134 $ 506,150 $ 430,400 Liabilities and Equity Accounts payable $ 147,658 $ 86,395 $ 57,949 Long-term notes payable 111,485 114,086 94,167 Common stock, $10 par value 62,500 62,500 62,500 Retained earnings 165,491 143,169 115,784 Total liabilities and equity $ 587,134 $ 506,150 $ 430,400 The company's income statements for the current year and one year ago, follow. For Year Ended December 31 Current Year 1 Year Ago Sales $ 763,274 $ 602,319 Cost of goods sold $ 465,597 $ 391,507 Other operating expenses 236,615 52,387 Interest expense 12,976 13,85 Income tax expense 9,923 9,035 Total costs and expenses 725,111 566,782 Net income $ 38,163 $ 35,537 Earnings per share $ 2.35 $ 2.19 rev: 09_07_2021_QC_CDR-376 10. Award: 2.00 points (1) Compute debt and equity ratio for the current year and one year ago. Debt Ratio Numerator: Denominator: = Debt Ratio 1 = Debt ratio Current Year: % 1 Year Ago: % Equity Ratio Numerator: Denominator: = Equity Ratio Equity ratio Current Year: = % 1 Year Ago %