Condensed balance sheet and income statement data for Cullumber Corporation are presented as follows. Assets Cash Receivables (net) Other current assets CullumberCorporation Balance Sheets December 31 Long-term investments Property, plant, and equipment (net) Total assets Liabilities and Stockholders' Equity Current liabilities Long-term liabilities Common stock Retained earnings Total liabilities and stockholders' equity 2022 $28.904 83,600 103.600 62.000 523,600 $77,180 93,600 343,600 287,324 2021 $25,468 $801.704 $731,268 CullumberCorporation Income Statements For the Years Ended December 31 75,600 86,600 60.000 483,600 $72,180 103,600 313.600 241,888 $801,704 $731,268

Condensed balance sheet and income statement data for Cullumber Corporation are presented as follows. CullumberCorporation Income Statements For the Years Ended December 31 Compute these values and ratios for 2021 and 2022. (Round ratios to 1 decimal place, eg. 15.2.) (d) Based on the ratios calculated, comment on the improvement or lack thereof in financial position from 2021 to 2022 of Cullumber Corporation. The liquidity as shown by the working capital and the current ratio has The solvency as shown by the debt to assets ratio has