Question: Please explain the process in obtaining the debt & equity ratios for 2017 & 2016 The company's income statements for the years ended December 31,

Please explain the process in obtaining the debt & equity ratios for 2017 & 2016

The company's income statements for the years ended December 31, 2017 and 2016, follow.

For Year Ended December 31 2017 2016 Sales $ 673,500 $ 532,000 Cost of goods sold $ 411,225 $ 345,500 Other operating expenses 209,550 134,980 Interest expense 12,100 13,300 Income taxes 9,525 8,845 Total costs and expenses 642,400 502,625 Net income $ 31,100 $ 29,375 Earnings per share $ 1.90 $ 1.80

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