Question 7 of 11 Sunland Corporation began operations January 1, 2022. Given the below information for Sunland Corporation: h Sunland Corporation Statement of Financial Position December 31 2023 Cash $15,000 Accounts Receivable 22.500 faventory 14,000 Total Current Assets 51.500 Property, Plant & Equipment 76.900 Total Assets 128.400 Accounts Payable 10.700 Deferred Revenue 14.500 Note Payable due 2026) Total Liabilities 71.200 Common States 20,000 Retained Earth 37200 Shareholders Edit 57:200 Tatalt ROER 2022 $9,500 19.400 15,400 44,300 76,900 121,200 10.800 18,500 46,000 35.300 20.000 2900 46,000 30a Accounts Receivable Inventory Total Current Assets Property, Plant & Equipment Total Assets Accounts Payable Deferred Revenue Note Payable (due 2026) Total Liabilities Common Shares Retained Earnings Shareholders' Equity Total Liabilities & Equity 22,500 14,000 51,500 76,900 128,400 10,700 14,500 46,000 71,200 20.000 37,200 57,200 128.400 19.400 15,400 44,300 76,900 121,200 10,800 18,500 46,000 75,300 20,000 25.900 45.900 121,200 Sunland Corporation Statement of Income For the year ending December 31 2023 2022 Salas $21800 SI O Search for anything O Sunland Corporation Statement of Income For the year ending December 31 2023 2022 Sales $221,800 $117,200 Cost of goods sold 138,800 83,300 Gross margin 83,000 33,900 Operating expenses 60,600 21,400 Interest expense 4,500 2.300 Income before income tax 17,900 10.200 Income tax expense 3,580 2.040 Net income 14,320 8.160 ca Chinalate dehtestatal accets rating (Round onwardio acimalla1512590 o Search for anything ORE 12 od (a) Calculate debt-to-total assets ratios. (Round answers to 2 decimal places, eg, 15.25%.) 2023 2022 Debt-to-total assets ratios % Identify for each whether or not there has been a year-over-year improvement or deterioration. The debt-to-total assets ratio has year-over-year indicating SUL Leter Attempts: 0 of 1 used Submit Ans Search for anything o 1 Identify for each whether or not there has been a year over-year improvement or deterioration. The debt-to-total assets ratio has v year-over-year indicating Save for Later Attempts:0 of 1 used Submit (b) The pares of this question must be completed in order. This part will be available when you complete the part above, Search for anything o CE