Chapter 13 Exercise i Saved 7 Required information [The following information applies to the questions displayed below.] 0.62 points Simon Company's year-end balance sheets follow. Skipped Current Yr 1 Yr Ago 2 Yrs Ago eBook 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 $ 25,799 76,283 94,962 8,308 236,330 $441,682 $ 31,070 $ 32,041 53,839 41,046 71,849 45,057 7,836 3,525 216,166 195,631 $ 380,760 $ 317,300 Hint $ 109,979 $ 63,061 $ 41,465 Print 85,527 162,500 83,676 $441,682 85,823 162,500 69,376 $ 380,760 70,123 162,500 43,212 317,300 References 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 $574,187 $350,254 177,998 9,761 7,464 545,477 $ 28,710 1 Yr Ago $ 453,104 $ 294,518 114,635 10,421 6,797 426,371 $ 26,733 $ 1.65 $ 1.77 For both the Current Year and 1 Year Ago, compute the following ratios: (1) Debt and equity ratios. Debt Ratio Choose Numerator: Choose Denominator: Debt Ratio Debt ratio % Il Current Year: 1 Year Ago: Equity Ratio Choose Numerator: Choose Denominator: Equity Ratio Equity ratio Current Year: 1 Year Ago: %