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Simon Companys year-end balance sheets follow.

	At December 31			2014			2013			2012
	Assets
	Cash		$	36,144		$	41,420		$	41,039
	Accounts receivable, net			102,701			70,311			56,953
	Merchandise inventory			127,836			94,826			60,667
	Prepaid expenses			11,754			10,655			4,653
	Plant assets, net			322,157			300,540			259,688
	Total assets		$	600,592		$	517,752		$	423,000
	Liabilities and Equity
	Accounts payable		$	149,547		$	85,750		$	56,394
	Long-term notes payable secured by mortgages on plant assets			112,911			116,701			93,483
	Common stock, $10 par value			162,500			162,500			162,500
	Retained earnings			175,634			152,801			110,623
	Total liabilities and equity		$	600,592		$	517,752		$	423,000

The companys income statements for the years ended December 31, 2014 and 2013, follow.

For Year Ended December 31	2014						2013
Sales				$	780,770					$	616,125
Cost of goods sold	$	476,270					$	400,481
Other operating expenses		242,039						155,880
Interest expense		13,273						14,171
Income taxes		10,150						9,242
Total costs and expenses					741,732						579,774
Net income				$	39,038					$	36,351
Earnings per share				$	2.40					$	2.24

Calculate the companys long-term risk and capital structure positions at the end of 2014 and 2013 by computing the following ratios. (2) Debt-to-equity ratio.

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