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Required: 1. Compute the five debt management ratios for 2022 and 2023. Round your answers to two decimal places. 2. Conceptual Connection: Indicate whether the
Required: 1. Compute the five debt management ratios for 2022 and 2023. Round your answers to two decimal places. 2. Conceptual Connection: Indicate whether the ratios have changed significantly from 2022 to 2023. Times interest earned ratio decreased, other ratios did not change by much. Do the ratios suggest that Steele is more or less risky for long-term creditors at December 31, 2023, than at December 31, 2022? alSource M Gmail D SalukNet mit su outiook C Chego Study Current liabilities: \begin{tabular}{lrr} Accounts payoble & $250,363 & $309,002 \\ Acerved expenses & 347,892 & 274,220 \\ Other current llabilities & 15,700 & 0 \\ Income taxes & 93,489 & 137,466 \\ Total current liabilities & $707,444 & $720,778 \\ Long-term debt & 650,000 & 541,639 \\ Deferred income taxes & 275,101 & 274,844 \\ Other long-term liabilities & 61,267 & 41,572 \\ Total liabilities & 1,693,812 & 1,578,833 \\ \hline \end{tabular} Stockholders' equity: Preferred stock Comman stock $100,00089,727$100,00089,727 Additional paid-in capital-common stock 128,906 127,776 Steele tne. Consolidated Balance Sheets (in thousands) ASSETS Dec. 31, 2023 Dec. 31, 2022 Current assets: Cash and equivalents Accounts receivable Inventories Debt Management Ratios Financial statements for Steele Inc. follow. Steele Inc. Consolidated Income Statements (in thousands except per share amounts)
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