Assets 2023 2022 Cash $32,000 $29,000 Accounts receivable 7,500 5,500 Prepaid Insurance 1.100 1,450 Inventory 220,000 175,000 Building 145,000 155,000 Equipment 36,000 40,000 Total Assets $441,600 $405.950 Liabilities and shareholders' equity Accounts Payable $ 12,500 $14,500 Notes Payable 10,000 0 Bonds Payable 145,000 95,000 Long-Term Debt 116,000 175,000 Common shares 25,000 25,000 Retained earnings 133, 100 96,450 Total liabilities and shareholders' equity $441 600 $405.950 Revenue $450,000 $300,000 Operating expenses 300.000 210.000 Income from operations 150,000 90,000 Interest expense 6,000 9,000 Income tax expense 36.000 20.250 Net income ......... $108 000 $60.750 Instructions (a) Calculate the company's debt to total assets and times interest earned ratios for each year (8 marks) (b) Determine if the change from 2022-2023 is an improvement or deterioration. (2 marks)