December 31 Assets Cash Accounts receivable. 2023 2022 $54,000 $6,200 90,000 88,800 Equipment 27,300 21,100 Less: Accumulated depreciation (11,300) (10,000) Total $160,000 $106,100 Liabilities and Shareholders' Equity Accounts payable $20,000 $10,000 Common shares 100,000 76,100 Retained earnings Total 40,000 $160,000 20,000 $106,100 Net income of $32,800 was reported and dividends of $12,800 were declared and paid in 2023. New equipment was purchased, and equipment with a carrying value of $4,800 (cost of $11.800 and accumulated depreciation of $7,000) was sold for $7,800. (a) Calculate the current ratio and debt to total assets ratio as at December 31, 2022 and 2023. Calculate the free cash flow for December 31, 2023. (Round answers to 2 decimal places, eg. 52.75. Show amounts that decrease cash flow with either a-sign es-15,000 or In parenthesis eg. (15,000)) Current ratio Debt to total assets ratio Free cash flow. December 31, 2023 $ 2023 1 % 2022 1 %