Waterway Corporation began operations January 1, 2022. Given the below information for Waterway Corporation: Waterway Corporation Statement of Income For the year ending December 31 20232022 Sales $231,100$122,900 Cost of goods sold Gross margin Operating expenses Interest expense Income before income tax Income tax expense Net income Calculate debt-to-total assets ratios. (Round answers to 2 decimal places, e.g. 15.25\%.) 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