Required information $(1)$ Compute debt and equity ratio for the current year and one year ago.

$\backslash$table$[[$Debt Ratio$],[,$Numerator:,I,Denominator:,$=,$Debt Ratio$],[,$Total liabilities,I,Total assets,$=,$Debt ratio$],[$Current Year:,,$1,$$$,602,957,=,\%],[1$ Year Ago:,,$1,$$$,475,808,=,\%],[$Equity Ratio$],[,$Numerator:,I,Den,,$=,$Equity Ratio$],[,$Total equity,$1,$Total assets,,$=,$Equity ratio$],[$Current Year:,,$/,$$$,602,957,=,\%],[1$ Year Ago:,,I,$$,475,808,=,\%]]$

$[The$ following information applies $to$ the questions displayed below.$]$

Simon Company's year$-$end balance sheets follow.

The company's income statements for the current year and one year ago, follow.

For both the current year and one year ago, compute the following ratios: