Question

Simon Company’s year-end balance sheets follow. At December 31 Current Yr 1 Yr Ago 2 Yrs...


Simon Company’s year-end balance sheets follow.

At December 31 Current Yr 1 Yr Ago 2 Yrs Ago
Assets
Cash $ 28,260 $ 34,025 $ 33,385
Accounts receivable, net 82,726 58,387 46,330
Merchandise inventory 101,952 77,918 48,862
Prepaid expenses 9,010 8,845 3,709
Plant assets, net 257,039 233,745 211,814
Total assets $ 478,987 $ 412,920 $ 344,100
Liabilities and Equity
Accounts payable $ 121,653 $ 68,388 $ 45,421
Long-term notes payable secured by
mortgages on plant assets
89,149 96,871 73,765
Common stock, $10 par value 162,500 162,500 162,500
Retained earnings 105,685 85,161 62,414
Total liabilities and equity $ 478,987 $ 412,920 $ 344,100


The company’s income statements for the Current Year and 1 Year Ago, follow.

For Year Ended December 31 Current Yr 1 Yr Ago
Sales $ 622,683 $ 491,375
Cost of goods sold $ 379,837 $ 319,394
Other operating expenses 193,032 124,318
Interest expense 10,586 11,302
Income tax expense 8,095 7,371
Total costs and expenses 591,550 462,385
Net income $ 31,133 $ 28,990
Earnings per share $ 1.92 $ 1.78


For both the Current Year and 1 Year Ago, compute the following ratios:

(1) Debt and equity ratios.

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