P2.6 (LO). AP Writing Condensed balance sheet and income statement data for Danke Corporation are presented as follows. Danke Corporation Balance Sheets December 31 Instructions Compute these values and ratios for 2021 and 2022. a. Working capital. b. Current ratio. 2022 2021 Assets Cash $ 28,000 $ 20,000 Receivables (net) 70,000 62,000 Other current assets 90,000 73,000 Long-term investments 62,000 60,000 Property, plant, and equipment (net) 510,000 470,000 Total assets $760,000 $685,000 Liabilities and Stockholders' Equity Current liabilities $75,000 $70,000 Long term liabilities 80,000 90,000 Common stock 330,000 300,000 Retained earnings 275,000 225,000 Total liabilities and stockholders' equity $760,000 $685,000 Danke Corporation Income Statements For the Years Ended December 31 2022 2021 Sales revenue $750,000 $680,000 Cost of goods sold 440,000 400,000 Operating expenses (including income taxes) Net income 240,000 220,000 $70,000 $ 60,000 eDebt to assets ratio. d. Based on the ratios calculated, discuss briefly the improvement or lack thereof in financial position from 2021 to 2022 of Danke Corporation. Compute ratios and compare liquidity and solvency for two companies