Kahluha Manufacturers Inc. reported the following information in its financial statements (10marks) KAHLUHA MANFACTURERS INC. Statement of Financial Position June 30 Assets 2023 2022 Cash Accounts receivable Prepaid Insurance Inventory Building Equipment Total Assets Liabilities and shareholders' equity Accounts Payable Notes Payable Bonds Payable $32,000 $29,000 7,500 5,500 1,100 1,450 220,000 175,000 145,000 155,000 36,000 40,000 $441,600 $405.950 Long-Term Debt Common shares $ 12,500 $14,500 10,000 0 145,000 95,000 116,000 175,000 25,000 25,000 133,100 96,450 $441,600 $405.950 Retained earnings Total liabilities and shareholders' equity ************************ AAAA 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) NOTE: You are to complete the questions above on appropriate separate document(s). Acceptable formats include: word document, excel documents, documents written by hand (scanned and uploaded as a pdf or jpeg file), or any template you have access to that fulfils the question requirements. You will then upload this or 'drag and drop' the file(s) into the upload box at the bottom of this question box