Doors Inc.s condensed income statement and balance sheet for the years 2022 and 2021 follow.

Accounts Receivable increased 40 percent from 2021 to 2022.

There were no new purchases of land, property, or equipment in 2022.

Accounts Payable decreased 20 percent from 2021 to 2022.

No new shares of common stock were issued in 2022.

The company paid out cash dividends of $116,540 in 2022.

The inventory turnover ratio for 2022 was 7 times.

The asset turnover ratio in 2022 was 3.0 times and in 2021 was 2.2 times.

The earnings per share in 2022 was $97.32 and in 2021 was $34.53.

The effective income tax rate in both years was 20 percent.

Required: Complete Doors Inc.s condensed Income Statement and Balance Sheet for years 2022 and 2021. Analyze: Assume that the management of Doors Inc. had been given a directive by the board of directors to improve the companys current ratio in 2022. Did the company improve its standing in this regard from the prior year?

Complete Doors Inc.s condensed Income Statement for years 2022 and 2021.

DOORS, INC.
Condensed Comparative Income Statement
For Years Ending December 31, 2022 and 2021
	Amounts
	2022	2021
Sales
Less: Cost of Goods Sold		118,800
Gross Profit
Operating Expenses	$126,500	$91,000
Net Income before Income Tax
Income Tax Expense
Net Income after Income Tax

Complete Doors Inc.s condensed Balance Sheet for years 2022 and 2021. (Amounts to be deducted should be indicated with a minus sign.)

DOORS, INC.
Comparative Balance Sheet
December 31, 2022 and 2021
	Amounts
	2022	2021
Assets
Current Assets
Cash	$56,200	$32,000
Accounts Receivable		20,500
Merchandise Inventory	26,800	18,400
Total Current Assets		$70,900
Property, Plant, and Equipment
Land	$19,000
Equipment	55,000
Less: Accumulated Depreciation	(9,700)
Total Property, Plant, and Equipment		$63,700
Total Assets		$134,600
Liabilities and Stockholders Equity
Current Liabilities
Accounts Payable	$18,400
Accrued Expenses
Total Current Liabilities	$24,800	$61,500
Stockholders Equity
Common Stock ($1 par, 10,000 Shares Authorized)	$2,000
Paid in Capital in Excess Of ParCommon Stock	500
Retained Earnings		70,600
Total Stockholders Equity
Total Liabilities and Stockholders Equity

Assume that the management of Doors Inc. had been given a directive by the board of directors to improve the companys current ratio in 2022. Did the company improve its standing in this regard from the prior year?

Did the company improve its standing in this regard from the prior year