Homework: Financial Statement Analysis Assignment i Saved 10 Required information Part 1 of 3 [The following information applies to the questions displayed below.] Simon Company's year-end balance sheets follow. 2 At December 31 Current Year 1 Year Ago 2 Years Ago points Assets Cash $ 29, 059 $ 33, 624 $ 35,736 Accounts receivable, net 85,073 61, 844 47, 177 Merchandise inventory 106,963 77,756 49,736 Prepaid expenses 9,642 8, 826 3,931 Book Plant assets, net 266, 764 246, 830 220, 820 Total assets $ 497, 501 $ 428, 880 $ 357, 400 Liabilities and Equity Print Accounts payable $ 120, 161 $ 71, 031 $ 46,233 Long-term notes payable 93,530 98, 642 79,775 Common stock, $10 par value 162, 500 162,500 162, 500 Retained earnings 121, 310 96, 707 68, 892 References Total liabilities and equity $ 497, 501 $ 428, 880 $ 357, 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 $ 646, 751 $ 510, 367 Cost of goods sold $ 394, 518 $ 331, 739 Other operating expenses 200, 493 129, 123 Interest expense 10,995 11, 738 Income tax expense 8, 408 7, 656 Total costs and expenses 614, 414 480, 256 Net income $ 32, 337 $ 30, 111 Earnings per share $ 1.99 $ 1.85(1) Compute debt and equity ratio for the current year and one year ago. Debt Ratio Numerator: Denominator: = Debt Ratio Debt ratio Current Year: S % 1 Year Ago: % Equity Ratio Numerator: Denominator: = Equity Ratio = Equity ratio Current Year: % 1 Year Ago: %