22. The following presents selected information for Westcliff Corporation's most recent financial statements. (6 points) 2009 2008 Liabilities & Equity Accounts Payable Notes Payable Long-term Debt - Current Maturities Accrued Liabilities Total Current Liabilities Long-term Debt Shareholders' Equity Total Liabilities & Equity $324,000 346,700 54,000 89,000 $813,700 670,000 654,800 $2,138,500 $279,000 289,000 54,000 106,000 $728,000 720,000 530,000 $1,978,000 Partial Income Statement 2009 2008 Gross Profit Administrative Expenses Lease Expense EBIT Interest Expense $549,500 168,300 21,600 $359,600 $151,200 $522,700 159,500 20,520 $342,680 $104,500 Compute the following leverage and interest coverage ratios: Compute the following leverage and interest coverage ratios: A. Debt to-Assets 2009: Debt-to-Assets 2008: B. Debt-to-Equity 2009: Debt-to-Equity 2008: C. Debt-to-Total Capital 2009: Debt-to-Total Capital 2008: D. Interest Coverage 2009: Interest Coverage 2008: E. Evaluate the solvency of Westcliff using the 2009 and 2008 leverage and interest coverage ratios computed above