Concord Corporation began operations January 1, 2022. Given the below information for Concord Corporation: Concord Corporation Statement of Financial Position December 31 2023 2022 Cash $13,800 $9.200 Accounts Receivable 22.900 18,300 Inventory 14,700 14,000 Total Current Assets 51,400 41.500 Property, Plant & Equipment 74,800 74.800 Total Assets 126,200 116,300 10.600 10,800 16,100 18.000 Accounts Payable Deferred Revenue Note Payable (due 2026) Total Liabilities 45,900 45.900 72,600 74,700 20,000 20,000 Common Shares Retained Earnings 33.600 21.600 Shareholders' Equity 53,600 41.600 Total Liabilities & Equity 126,200 116,300 Concord Corporation Statement of Income For the year ending December 31 2023 2022 Sales $223,900 $121,300 Cost of goods sold 139,300 85,100 Gross margin 84,600 36,200 Operating expenses 62,700 23,500 Interest expense 5,200 2,500 Income before income tax 16,700 10,200 Income tax expense 3,340 2,040 Net income 13,360 8,160 ome tax expense 3,340 2,040 Et income 13,360 8,160 a) Calculate debt-to-total assets ratios. (Round answers to 2 decimal places, e.g. 15.25%.) 2023 2022 Debt-to-total assets ratios % Identify for each whether or not there has been a year-over year improvement or deterioration The debt-to-total assets ratio has year-over-year indicating Save for Later Attempts: 0 of 1 used