Mini-Exercise 11-7 (Algo) Calculate debt ratio and debt/equity ratio The following information was available for the year ended December 31, 2022: Total assets at year-end Total liabilities at year-end 240,000 136,000 Required: a. Calculate the debt ratio at December 31, 2022. Note: Round your percentage answer to 1 decimal place (i.e., 0.123 should be entered as 12.3). b. Calculate the debt/equity ratio at December 31, 2022. Note: Enter your percentage answer as whole percentage (i.e., 0.12 should be entered as 12). a. Debt ratio b. Debt/Equity ratio 57.0 % %