! Required information 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 $ 28,103 83,946 104,501 9,235 260, 264 $486,049 $32,850 $ 35,965 58,075 47,822 76,741 50,584 8,623 3,841 242,719 215, 288 $ 419,003 5 352,780 $118,606 $ 72,229 $ 47,953 91,377 162,500 113,566 $486,849 94,444 75,608 162,500 162,500 89,835 66,639 $ 419,808 $352,709 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 opense Income tax expense Total costs and expenses Net Income Current Yr $631,364 $385,437 199,878 10,742 8:214 6e0,271 $ 31,593 1 Yr AO $ 498,620 3324, 203 126,151 11,468 2,479 469,201 $ 29, 419 to search O BE 110 $631,864 $ 498,620 Sales Cost of goods sold Other operating expenses Interest expense Income tax expense Total costs and expenses Net income Earnings per share $385,437 195,878 10,742 8,214 $324,103 126,151 11,468 7,479 600,271 $ 31,593 469,201 $ 29,419 $ 1.81 $ 1.94 For both the Current Year and 1 Year Ago, compute the following ratios: (1) Debt and equity ratios. Answer is complete but not entirely correct. Debt Ratio Debt Ratio Choose Numerator Total liabilities 209 983 166,673 Debt raho 432 Current Year: 1 Year Ago: 39.a 96 Choose Denominator Total assets S 496.049 S 419.008 Equity Ratio Choose Denominator Current assets 5 276,066 x 3 252.935 X Choose Numerator: Current abilities X S 209 983 % 166,673 X Equity Ratio Equity ratio 781 90 Current Year: 1 Year Ago: 651 to search n