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Required information [The following information applies to the questions displayed below.] Simon Company's year-end balance sheets follow. Current Year 1 Year Ago 2 Years 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 Common stock, $10 par value Retained earnings Total liabilities and equity $ 27,975 77,901 100,943 8,832 249, 205 $ 464,856 $ 32,700 56,103 74,878 8,331 228,726 $ 400,738 $ 32,088 44,081 46,026 3,565 201,640 $ 327,400 $ 118,064 84,771 162,500 99,521 $ 464,856 $ 67,725 90, 326 162,500 80, 187 $ 400,738 $ 44,081 73,079 162,500 47,740 $ 327,400 For both the current year and one year ago, compute the following ratios: The company's income statements for the current year and one 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 Year $ 604, 313 $ 368,631 187,337 10,273 7,856 574,097 $ 30,216 $ 1.86 1 Year Ago $ 476,878 $ 309,971 120,650 10,968 7,153 448,742 $ 28, 136 $ 1.73 (1) Debt and equity ratios. (2-a) Compute debt-to-equity ratio for the current year and one year ago. (2-b) Based on debt-to-equity ratio, does the company have more or less debt in the current year versus one year ago? (3-a) Times interest earned. Required information $ 368,631 187,337 10,273 7,856 $ 309,971 120,650 10,968 7,153 Cost of goods sold Other operating expenses Interest expense Income tax expense Total costs and expenses Net income Earnings per share 574,097 $ 30,216 448, 742 $ 28,136 $ 1.73 $ 1.86 (1) Debt and equity ratios. (2-a) Compute debt-to-equity ratio for the current year and one year ago. (2-b) Based on debt-to-equity ratio, does the company have more or less debt in the current year versus one year ago? (3-a) Times interest earned. (3-b) Based on times interest earned, is the company more or less risky for creditors in the Current Year versus 1 Year Ago? Complete this question by entering your answers in the tabs below. Required 1 Required 2A Required 2B Required 3A Required 3B Compute debt and equity ratio for the current year and one year ago. Numerator: Debt Ratio 1 / Denominator: 1 Debt Ratio Debt ratio % = = = Current Year: 1 Year Ago: % Equity Ratio 1 Numerator: Denominator: = 1 11 Equity Ratio Equity ratio % 1 11 Current Year: 1 Year Ago: 1 11 %