Income statements for the current year and one year ago, follow. Assume that all sales are...

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Income statements for the current year and one year ago, follow. Assume that all sales are on credit. 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 Year-end balance sheets follow At December 31 Assets Cash Accounts receivable, net Inventory Prepaid rent Machinery, net Total assets Liabilities and Equity Current Year $395,676 201,081 11,027 8,432 $ 648,649 616,216 $ 32,433 $ 2.00 Current Year 1 Year Ago 2 Years Ago $28,850 87,882 $ 498,961 $ 33,723 59,025 35,135 46,378 49,388 9,214 3,943 80,371 107,277 9,196 265,756 $121,756 92,867 162,500 121,838 247,816 $ 430,139 $ 74,147 101,900 162,500 91,592 $ 430,139 220,056 $354,900 $ 45,910 76,080 162,500 70,410 $ 354,900 Accounts payable Long-term notes payable Common stock Retained earnings Total liabilities and equity $498,961 1 Year Ago $ 332,712 129,502 11,773 7,678 $ 511,865 481,665 $ 30,200 $ 1.86 (1) Compute debt-to-equity ratio for the current year and one year ago. Choose Numerator: Debt-To-Equity Ratio Choose Denominator: Current Year 1 Year Ago 1 1 Debt-to-equity ratio 0 to 1 = 0 to 1 Income statements for the current year and one year ago, follow. Assume that all sales are on credit. 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 Year-end balance sheets follow At December 31 Assets Cash Accounts receivable, net Inventory Prepaid rent Machinery, net Total assets Liabilities and Equity Current Year $395,676 201,081 11,027 8,432 $ 648,649 616,216 $ 32,433 $ 2.00 Current Year 1 Year Ago 2 Years Ago $28,850 87,882 $ 498,961 $ 33,723 59,025 35,135 46,378 49,388 9,214 3,943 80,371 107,277 9,196 265,756 $121,756 92,867 162,500 121,838 247,816 $ 430,139 $ 74,147 101,900 162,500 91,592 $ 430,139 220,056 $354,900 $ 45,910 76,080 162,500 70,410 $ 354,900 Accounts payable Long-term notes payable Common stock Retained earnings Total liabilities and equity $498,961 1 Year Ago $ 332,712 129,502 11,773 7,678 $ 511,865 481,665 $ 30,200 $ 1.86 (1) Compute debt-to-equity ratio for the current year and one year ago. Choose Numerator: Debt-To-Equity Ratio Choose Denominator: Current Year 1 Year Ago 1 1 Debt-to-equity ratio 0 to 1 = 0 to 1