Selected information from the financial statement of the Brentcliffe Corporation follows: 2022 2021 Total assets $500,000 $507,500 Total liabilities 408,850 395,500 Interest expense 30,000 20,250 Income tax expense 26,200 25,250 Net income 92,800 101,000 Cash from operating activities 104,300 111,500 Net capital expenditures 46,000 42,500 Dividends paid 55,000 55,000 Instructions

(a) For each year, calculate the debt to total assets ratio, the times interest earned ratio and free cash flow, and

(b) Comment on whether Brentcliffes overall solvency has improved or deteriorated in 2022.