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Debt Management and Short-Term Liquidity Ratios Magellan Company is an international travel agency providing travel...

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Debt Management and Short-Term Liquidity Ratios Magellan Company is an international travel agency providing travel planning services to customers in over 20 countries. Recently, the travel industry has been experiencing volatility as a result of increases in oil prices. Magellan's investors have been following its financial information closely to determine its ability to continue as a going concern. Its investors have used the following information to determine financial ratios: 2022 2021 Current assets $2,250 $8,500 Long-term assets 5,400 2,500 Current liabilities 3,375 1,650 Long-term liabilities 1,250 2,500 Shareholders' equity 1,375 2,500 Required: Between 2021 and 2022, indicate whether Magellan's debt-to-equity ratio increased or decreased. Also, indicate whether Magellan's current ratio increased or decreased Round to the nearest whole percent. Debt-to-equity ratio for 2022 is Increased Current ratio for 2021 is Decreased Debt-to-equity ratio Current ratio

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