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Debt Management Ratios Financial statements for Steele Inc. follow. Steele Inc. Consolidated Income Statements (in thousands except per share amounts) Steele Inc. Consolidated Aalance: Sheets
Debt Management Ratios Financial statements for Steele Inc. follow. Steele Inc. Consolidated Income Statements (in thousands except per share amounts) Steele Inc. Consolidated Aalance: Sheets Steele Inc. Consolidated Balance Sheets (in thousands) ASSETS Dec. 31,2023 Dec. 31,2022 Current assets: Cash and equivalents Accounts receivable Inventories Other Total current assets Property and equipment, net Other assets Total assets \begin{tabular}{rr} 109,456 & 101,811 \\ \hline$2,220,625 & $1,784,130 \\ 1,666,588 & 1,813,948 \\ 205,342 & 248,372 \\ \hline$4,092,555 & $3,846,450 \\ \hline \end{tabular} LABIIIIIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable Accrued expenses Other current liabilities Income taxes Total current liabilities Long-term debt Using Steele's financial statements as shown above, respond to the following requirements. 1. Compute the five debt management ratios for 2022 and 2023. Round your answers to two decimal places. Using Steele's financial statements as shown above, respond to the following requirements. 1. 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 . 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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