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Debt Management Ratios Financial statements for Steele inc. follow. Steele Inc. Consolidated Balance Sheets (in thousands) ASSETS Dec. 31, 2023 Dec. 31, 2022 Current assets:

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Debt Management Ratios Financial statements for Steele inc. follow. Steele Inc. Consolidated Balance Sheets (in thousands) ASSETS Dec. 31, 2023 Dec. 31, 2022 Current assets: Cash and equivalents Accounts recelvable Inventories Other Total current assets Property and equipment, net Other assets Total assets LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable Accrued expenses $320,5581,056,911$41,235837,377 Other current liabilities Income taxes Total current Habilities \begin{tabular}{rr} $250,363 & $309,092 \\ \hline 347,892 & 274,220 \\ 15,700 & 0 \\ 93,489 & 137,466 \\ \hline$707,444 & $720,778 \end{tabular} Accrued expenses Other current liabilities income taxes Total current liabilities. Long-term debt Deferred income taxes Other long-term liabilities Total liabilities Stockholders' equity: Preferred stock Common stock Additional paid-in capital-common stock Retained earnings Less: Treasury stock, at cost Total stockholders' equity Total liabilities and stockholders' equity Required: Compute the five debt management, ratios for 2022 and 2023. Round your answers to two decimal places. 2. Conceptual Connection: indicate whether the ratios have changed significantly from 2022 to 2023. Times interest earned ratio decreased, other ratios did not change by much. Do the ratios suggest that Steele is more or less risky for long-term creditors at December 31, 2023, than at December 31 , 2022

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