Sunland Corporation began operations January 1, 2022. Given the below information for Sunland Corporation: Sunland Corporation Statement of Financial Position December 31 2023 Cash $14,800 Accounts Receivable 23,000 Inventory 14,400 Total Current Assets 52,200 Property, Plant & Equipment 71,400 Total Assets 123,600 Accounts Payable 11,000 Deferred Revenue 16,200 Note Payable (due 2026) 47,800 Total Liabilities 75,000 Common Shares 20,000 Retained Earnings 28,600 Shareholders' Equity 48,600 Total Liabilities & Equity 123,600 2022 $10,300 19.100 14,500 43,900 71,400 115,300 10.000 20.200 47,800 78,000 20.000 17.300 37,300 115,300 Sunland Corporation Statement of Income For the year ending December 31 2023 2022 Sales $229.900 $122,700 Cost of goods sold 142,200 83.300 Gross margin 87,700 39,400 Operating expenses 63,800 24,800 Interest expense 4,500 2,400 Income before income tax 19,400 12.200 Income tax expense 3.880 2,440 Net income 15,520 9,760 (a) Calculate debt-to-total assets ratios. (Round answers to 2 decimal places, e.g. 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