Module 2, Chapter 2 Handout A Further Look at the Balance Sheet E2.10 Suppose the following data were taken from the 2022 and 2021 financial statements of American Eagle Outfitters. (All numbers, including share data, are in thousands.)- 2022 2021- Current assets $925,359 $1,020,834 Total assets 1,963,676 1,867,680 Current liabilities+ 401,763+ 376,178 Total liabilities+ 554,645 527,216 Net income 179,061 400,019 Instructions: Perform each of the following. a. Calculate the current ratio for each year. " + a b. Calculate the debt to assets ratio for each year. C. Discuss American Eagle's solvency in 2022 versus 2021. P2.4 Comparative financial statement data for Loeb Corporation and Bowsh Corporation, two competitors, appear below. All balance sheet data are as of December 31, 2022. Bowsh Corporation Instructions Loeb Corporation 2022 2022- Net sales $1,800,000 Cost of goods sold 1,175,000 $620,000 340,000 Operating expenses 283,000 98,000 Interest expense 9,000 3,800 Income tax expense 85,000 36,000+ Current assets 407,200 190,336 44444 Plant assets (net) 532,000 139,728 + Current abilities 66,325 Long-term liabilities 108,500 33,716 40,684 + a. Comment on the relative liquidity of the companies by computing working capital and the current ratio for each company for 2022. b. Comment on the relative solvency of the companies by computing the debt to assets ratio for each company for 2022 L