The comparative balance sheet of Cookie \& Coffee Creations Inc at October 31,2023 for the years 2023 and 2022, and the income \begin{tabular}{|c|c|c|} \hline Interest payable & 188 & 0 \\ \hline Noteparable-current portion & 4,000 & 0 \\ \hline Note payable-long-term portion. & 6,000 & 0 \\ \hline Preferred stock, no par, $6 cumulative - 3,000 and 2,800 shares ksued, respectively & 15,000 & 14,000 \\ \hline Common stock, 51 par-25,930 shares issued & 25,930 & 25,930 \\ \hline Additional paid in capital-treasury stock & 250 & 0 \\ \hline Retained earnings & 26,802 & 16,800 \\ \hline Lentmasiarystock & 0 & (50) \\ \hline Total liabilities and stackholders' equity & $122,821 & $94,160 \\ \hline \end{tabular} COOKIE \& COFFEE CREATIONS INC. Income Statement Year Ended October 31 \begin{tabular}{|c|c|c|} \hline & 2023 & 2022 \\ \hline Sales & $485,625 & $462,500 \\ \hline Cost of goods sold & 222.694 & 208,125 \\ \hline Gross profit & 262,931 & 254,375 \\ \hline \end{tabular} Operating expenses \begin{tabular}{lrrr} Salaries and wages expense & 147,979 & & 146,350 \\ Depreciation expense & 17,600 & 9,100 \\ Other operating expenses & 48,186 & & 42,925 \\ Total operating expenses & 213,765 & & 198,375 \\ Income from operations & 49,166 & & 56,000 \\ Other expenses & & & \\ Interest expense & 413 & & 0 \\ Loss on disposal of plant assets & 2,500 & & 0 \\ \hline Total other expenses & 2,913 & & 0 \\ Income before income tax & 46,253 & & 56,000 \\ Income tax expense & 9,251 & & 14,000 \end{tabular} Additional information: Natalie and Curtis are thinking about borrowing an additionsl $20,000 to buy more kitchen equipment. The loan would be repaid over a 4 year period, The terms of the loan provide for equal semi-annual payments of $2.500 on May 1 and November 1 of each year, plus interest of 5% on the outstanding balance. Calculate the following ratios for 2022 and 2023. (Round current ratio to 2 decimal places, e.g. 12.61, debt to assets and gross profit rate to 0 decimat places. e.g. 12 and all other answers to 1 decimat place, e.g. 12.6%.) Calculate the following ratios for 2022 and 2023. (Round current ratio to 2 decimal places, e.8. 12.61, debt to assets and gross profit rate to 0 decimat places, e.s. 12 and all olher answers to 1 decimat place, e.s. 12.6%.)