Sedona Corporation declared and paid a cash dividend of $7,600 in the current year. Its comparative financial statements, prepared at December 31, reported the following summarized information: Current Year Previous Year $ 160,000 72,000 88,000 46,000 5,000 37,000 11,100 $ 25,900 $ 139,000 68,000 71,000 41,000 5,000 25,000 7,500 $ 17,500 Income Statement Sales Revenue Cost of Goods Sold Gross Profit Operating Expenses Interest Expense Income before Income Tax Expense Income Tax Expense (30%) Net Income Balance Sheet Cash Accounts Receivable, Net Inventory Property and Equipment, Net Total Assets Accounts Payable Income Tax Payable Notes Payable (long-term) Total Liabilities Common Stock (par $10) Retained Earnings Total Liabilities and Stockholders' Equity $ 82,550 27,000 35,000 105,000 $ 249,550 $ 52,000 1,250 50,000 103, 250 96,000 50,300 $ 249,550 $ 28,000 22,000 48,000 115,000 $ 213,000 $ 34,000 1,000 50,000 85,000 96,000 32,000 $ 213,000 6-a. Compute the debt-to-assets ratios for the current and previous years. (Round your answers to 2 decimal places.) 6-b. Is debt providing financing for a larger or smaller proportion of the company's asset growth? 6-a. Current Year 6-a. Previous Year 6-b. Current year debt-to-assets ratio? 41.37 39.91 X Larger Proportion